Rising Cracking Margins Bode Well for Refiners

SEOUL, Aug. 20 (Korea Bizwire) — A key measure of oil refining companies’ profitability has risen in recent months due to rising crude prices, raising speculation that South Korean refiners’ third-quarter earnings will improve sharply, industry sources said Sunday. The benchmark Singapore complex gross refining margin (GRM) hovers around US$8 per barrel this month, up [...]