USWC margins shine as California starts to loosen pandemic restrictions

摘要

New York—US refinery margins were weaker across the country last week, but refiners on the US West Coast continue to weather the pandemic-led low-demand scenario better than other regions as California begins gradually reopening, an analysis from S&P Global showed Monday. USWC margins, particularly for refiners running South American crudes, strengthened last week. Stay-at-home orders in much of South America have shut plants there and freed up barrels of Colombian and Ecuadorean crude at economic prices.