Global refining margins showed mixed results.
Global refining margins showed mixed results. Refineries have returned from the autumn peak maintenance season, showing a slight rise in available spare capacity globally. The U.S. saw improvement in transport activity during year-end holidays, but refinery intakes remain around 2 MMbpd below y-o-y levels. European markets weakened, affected by stronger crude prices amid seasonal weakness. Asia refining margins suffered mostly in the bottom of the barrel due to a decline in fuel oil requirements from the utilities sector. HP
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