U.S. Refiner Profits Plummet
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gasoline demandReuters
•Business
Business & Economics
US oil refiners brace for a tough year as investor sentiment turns negative

80% Informative
Investors are souring on the U.S. oil refining sector, citing forecasts for softer fuel demand and worries that President-elect Donald Trump may slap tariffs on imports of crude.
Shares of major refiners have fallen this year , and on average, analysts have lowered expectations for refiners' fourth-quarter earnings before interest, taxes and amortization ( EBITA ) by 24% since the start of the quarter .
Analysts also noted the easing of gasoline crack spreads and persistently low diesel cracks.
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