Soaring Freight Rates Give US Refiners Edge As Crude Discounts Widen

AI Summary

Iran-related conflict has driven tanker freight rates sharply higher, prompting sellers to widen discounts on heavy crude. The resulting economics are giving U.S. Gulf Coast refiners a competitive advantage.

By Vallari Srivastava and Sumit Saha Nov 6 (Reuters) – The Iran conflict has sent tanker rates soaring, forcing sellers to deepen discounts on heavy crude grades and giving US Gulf Coast...