Asia Oil Refiners Face Big Losses as War Upsets Hedging Strategy


Hedging structures “work as long as crude cargoes arrive, runs are maintained, product availability is certain, and is sold into the market,” said Sumit Ritolia, lead research analyst for refining and modeling at analytics firm Kpler Ltd. “However, the current disruption is breaking that linkage. A strategy designed to reduce risk is turning into a source of financial pressure.”



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