Asian refiner margins rise, glut concerns emerge
Refiners boost inventories, potentially ending a recent rally that has lifted crude prices from six-year lows
Add BT as a preferred source
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).
TRENDING NOW
Digital Realty, STT GDC among data centre operators awarded 50 MW of new capacity in Singapore
Jardine C&C selling Singapore, Malaysia dealerships to Indonesia’s Chandra Asri for US$221 million gain
When every phone becomes a satellite phone, what happens to Asia’s telcos?
‘How come you’re so young?’: Gen Z couple takes on Singapore’s established bullion dealers
