Asian refiner margins rise, glut concerns emerge
Refiners boost inventories, potentially ending a recent rally that has lifted crude prices from six-year lows
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Singapore
A SHARP rise in Asian refiner margins has raised concerns of a build-up in crude and oil products in the next few months as refiners boost inventories, potentially ending a recent rally that has lifted crude prices from six-year lows.
A products glut would coincide with the expected ramp-up of large new refineries in the Middle East, and could come as China is expected to scaledownbuying for its strategic petroleum reserves (SPR).
