Refined Products
PBF Energy reports third consecutive quarter loss due to falling margins
PBF Energy reported a third consecutive quarter loss on Thursday as the U.S. refining company was hit by a decline of margins. The Parsippany refiner in New Jersey reported a fourth-quarter loss of $289.3 millions, or $2.54 a share. This was higher than the loss of 48.4 million dollars, or $0.40 if you look at it compared to a year ago. The margins on global refining have fallen in the past year due to the weaker economy and the opening of several refineries in Asia and Africa. U.S. refinery profit margins measured by the 3-2-1 Crack Spread In the quarter...