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Surging Energy Prices Bring Near-Term Cheer To Indian Oil Refiners
Rising energy prices will support oil companies' refining margin in the near term.
26 Oct 2021, 08:29 AM IST
Consumers are switching to diesel from gas as prices of the cleaner natural fuel rose amid a surge in energy costs around the world. That’s likely to strengthen the core gross refining margin of Indian oil firms. Diesel’s premium to crude, or the crack spread measured as the difference between the price of processed petroleum products and crude oil, hit a two-year high of $23.97 a barrel on Oct. 14. The Bloomberg Fair Value Low Sulph...
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