The margins of refiners and petrochemical companies are probable to improve as the current rise in crude oil prices is temporary.
US-based refineries have been restarting their operations after Hurricane Harvey, which forced them to shut down for two weeks.
As per report, as oil prices weaken, refining margins will recover even though US refiners hit by Hurricane Harvey have been coming back online. This, in turn, has affected product prices and crack spreads, which have retreated.
Gross refining margins were still higher than pre-Hurricane Harvey, although US refining capacity has been steadily rising on higher crude prices.
