. Alternating periods of higher demand for products have also helped, with jet fuel recently sprinting higher as diesel fell off.
Top U.S. refiner by volume Marathon Petroleum is forecast to show a per share profit of $5.71 compared to $1.49 a year ago, while Phillips 66 could deliver a $3.60 per share, compared to $1.32 a year ago, according to Refinitiv. Both are scheduled to report in early May.this month signalled its refining profits could reach $3.55-billion for the period compared $332-million a year ago, which was hurt by high maintenance costs.
The U.S. refining crack spread, a proxy for profit from processing a barrel of oil into fuels, is hovering around $30 per barrel, $10 lower than a year ago, Refinitiv data showed.
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