Calumet Specialty Products Partners, L.P. (NASDAQ:NASDAQ:CLMT) Q1 2022 Earnings Conference Call May 06, 2022, 09:00 AM ET Company Participants Brad McMurray - IR Todd Borgmann - CEO Vincent.
REFINERY MARGIN TRACKER: Impact of strong USGC margins ripples across other regions
US Gulf Coast refining margins strengthened as refiners moved forward to restart their plants back after unusually low temperatures forced them offline in mid-February, supporting refining margins higher than the same time in 2020, an analysis from S&P Global Platts showed March 8.
The freeze overwhelmed Texas’ stand-alone electricity grid, and refiners shut down their plants to conserve power for residents to heat their houses, sending USGC refinery utilization to 40.9% for the week ended Feb. 26, the lowest level on record reported by the Energy Information Administration.
On a weekly basis, USGC refining margins jumped higher across the board for the week ended March 5, with WTI MEH cracking margins averaging $12.61/b compared with the $11.88/b the week earlier, S&P Global Platts Analytics data showed.