Refiners riding high with strong margins, tax boost
(WorldNews Business)

U.S. refiners are off to a strong start in 2018, even as competitors elsewhere are hitting harder times. Independent refiners are poised to cash in on President Donald Trump`s U.S. tax reform. Oil market fundamentals are also looking bright. Gulf Coast refiners ran at record-high levels in the last week of December. The party is set to continue as planned shutdowns will be 45 percent lower this quarter from a year ago, according to data compiled by Bloomberg. Analysts are bullish with good reason. While some Mediterranean refiners are taking losses on each barrel of crude they process and Asian fuel makers face more competition from China, margins at some Midwest plants reached $40 a barrel...