Asian refining margins turn negative amid Iran conflict
pre-market1 source ↓written by the desknot a recommendation
Asian refining margins have slipped into negative territory, with benchmark Singapore GRMs dropping from USD 40-45 per barrel to between negative USD 5 and negative USD 10. The ongoing Iran conflict disrupts crude supply chains, forcing refiners to cut operating rates and highlighting structural stress in the sector. Countries reliant on oil from the Strait of Hormuz face significant feedstock shortages.
• GRMs decline sharply
• Supply disruptions strain operations
• Refiners in Singapore and Southeast Asia affected
Immediate market implications may include reduced refining activity and potential volatility in oil prices.
Not investment advice. For informational purposes only.