REFINERY MARGIN TRACKER: European refinery margins impacted by sky-high gas prices

摘要

European refining margins are reflecting the impact of rising natural gas prices, which are rising on low supply and high demand, balanced by fuel switching and reduced refinery runs in some regions, an analysis from S&P Global Platts showed Oct. 11. Declining investment in natural gas production, particularly in the North Sea and Russia, and greater pull from LNG sector has resulted in tight supply of natural gas in Europe, which has pushed the price of Europe’s benchmark TTF natural gas contract over $40/MMBtu, “triggering a huge domino effect in adjacent markets” according to S&P Global Platts Analytics.