HF Sinclair Reports Lower Q2 Profit Amidst Refining Margin Decline
Thursday, 1 August 2024, 10:36
HF Sinclair’s Q2 Performance Overview
In the second quarter, U.S. refiners ramped up processing capacity to 93.5%, compared to 91% during the same period last year. This increase was driven by expectations of greater demand that ultimately did not materialize.
Refinery Margin Analysis
- HF Sinclair's refinery gross margin dropped significantly.
- Current margin stands at $11.33 per barrel.
- This represents a sharp decrease from $21.99 per barrel in the previous year.
This situation illustrates the challenges faced by refiners and the impact of market fluctuations on profitability.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.