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Oil Refiner Margins Tank in Europe in Latest Sign of Weak Demand

  • South Korean buying of North Sea oil tightened crude market
  • Prices of light fuels like gasoline and naphtha have been weak
MOL Hungarian Oil & Gas Plc Refinery As Oil Trades Near Three-Month High
Photographer: Akos Stiller/Bloomberg

Oil refining margins in northwest Europe are collapsing, the latest sign of weak demand for crude that’s driven prices into bear-market territory this month.

Three out of seven refining configurations in the region are losing money while the remaining processes are the least profitable in years, according to Oil Analytics data compiled by Bloomberg.