Oil Refiners Fear Trade Wars Will Hit Them Soon – Q1 2025 results of downstream-focused majors have been in stark contrast with how bearish the market remains on the future of refining, with the past years’ demand growth jeopardized by trade wars. – Consumption patterns in refined products have lagged flat price developments, leading to relatively higher margins today – the Singapore margin for refining Dubai crude is now around $7 per barrel, up from $4.3 per barrel a year ago. – The contango futures structure that has developed in…

via OilPrice https://ift.tt/RaD2iPH