Refining margins in Northwest Europe have recently fallen into negative territory, as products have failed to keep up with the dramatic gain in crude prices. As of Dec 27, NWE refining margins were pegged at -24 cts, versus US4.56 in the US and US2.95 in Singapore, according to a weekly report by A.G.Edwards Sons. For the previous week, margins were at 65 cts for NWE, US3.93 in US and US2.72 in Singapore.
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