Oil prices are edging higher. Crude prices have fared more strongly than refning margins, but the outlook for the latter is stronger as turnarounds cut supply. Atlantic Basin crude benchmark North Sea Dated rose by 66￠/bl to $47.78/bl in the week to 1 October, while US marker November WTI was fat at $44.74/bl, just 17￠/bl lower. The start of seasonal refnery maintenance is supporting products margins but further cutting demand for crude. Turnarounds in the US midcontinent weighed on regional crude prices in Midland, Texas, with WTI Midland and West Texas Sour (WTS) moving to discounts to WTI at Cushing.
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