US refiners catching up on supply as margins slip

07/12/2004
US refiners are catching up on supply of both feedstock and product. The result is already showing up in the form of reduced crude and gasoline prices. But refiners may have done their job too well, as the prospect of burgeoning gasoline inventories later in the year may trim some of the fat margins they've enjoyed of late.US refiners have been running all out to meet surprisingly strong gasoline demand in the country. At the same time, imports of gasoline into the US have been sustained at record levels. But there are signs that the level of gasoline demand may have been overestimated. So with near-capacity utilization levels continuing amid a modest number of refinery turnarounds, t...
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