Asian refining margins slip into negative territory as Iran war disrupts crude flows

Negative refining margins directly hit the profitability of Indian oil refiners. Geopolitical tensions are driving up crude costs and freight, squeezing margins further.

• •Asian refining margins have turned negative.
• •The Iran conflict is disrupting crude oil supplies.
• •Refiners across the region are forced to reduce operations.
• •Benchmark Singapore gross refining margins have fallen sharply.
• •Freight costs have surged significantly, increasing the landed cost of crude for Asian buyers.