What’s New
What they’re saying: Fuel prices and high earnings result from stress in global refining
Some have been surprised by recent refining margins, earnings in the refining sector and a seeming disconnect between finished fuel prices and prices of crude oil. There’s a reason for this: in short, while the price of crude oil is the biggest factor determining fuel prices, it’s not the only factor, and there’s particular tightness in the global refined product market which hadn’t been the case until recently. Take a look to see what several analysts, reporters and market experts have explained about this topic.
AFPM urges STB to reject latest rail merger application, citing competition concerns
WASHINGTON, D.C. — The American Fuel & Petrochemical Manufacturers (AFPM), alongside the Alliance for Chemical Distribution (ACD), American Chemistry Council (ACC), the Fertilizer Institute (TFI) and the National Industrial Transportation League (NITL), filed a joint motion urging the Surface Transportation Board (STB) to deny the proposed Union Pacific and Norfolk Southern merger application.
Issues and Policies
18.6 million
U.S. refining increased to more than 18.6 million barrels per day, almost 20% of global capacity.
$185 billion
Petrochemical manufacturers have invested $185 billion to expand operations to meet growing demand.