European oil refineries’ margins collapse as input costs soar - Financial Times

Subscribe to read

* Sign In
* Subscribe

Open side navigation menuOpen search bar

SubscribeSign In

Popular Searches

* What is the latest news on the UK economy?
* Western support for Ukraine
* How will AI be regulated?
* UK inflation vs the world
* How will the UK economy fare in 2026?

* Home
* World

Sections

+ World Home
+ Middle East war
+ Global Economy
+ UK
+ US
+ China
+ Africa
+ Asia Pacific
+ Emerging Markets
+ Europe
+ War in Ukraine
+ Americas
+ Middle East & North Africa

Most Read

+ Marine Le Pen vows ‘trial of strength’ with EU
+ Healey set to pay for Budget giveaways without more borrowing
+ The art of living dangerously
+ Ukraine blindsided by Starlink restrictions and intelligence gaps
+ Houthis attack Saudi Aramco headquarters
* US

Sections

+ US Home
+ US Economy
+ US Companies
+ US Politics & Policy

Most Read

+ Ukraine blindsided by Starlink restrictions and intelligence gaps
+ Why Trump is going for Zelenskyy’s jugular
+ US arrests Saudi employee of OpenAI for allegedly bugging its offices
+ How not to revive Europe’s auto industry
+ Anthropic warns rogue AI agents may ‘self-replicate’ to hijack everyday devices
* Companies

Sections

+ Companies Home
+ Energy
+ Financials
+ Health
+ Industrials
+ Media
+ Professional Services
+ Retail & Consumer
+ Tech Sector
+ Telecoms
+ Transport

Most Read

+ How I used AI to become a chess grandmaster at 16
+ Military briefing: Houthis expose limits of Saudi Arabia’s vast arsenal
+ US arrests Saudi employee of OpenAI for allegedly bugging its offices
+ Celebrity lawyer accused of participating in ‘outright plunder’ of BHS
+ How Ukraine’s data centre strikes have thrown Russia into turmoil
* Tech

Sections

+ Tech Home
+ Artificial intelligence
+ Semiconductors
+ Cyber Security
+ Social Media

Most Read

+ How I used AI to become a chess grandmaster at 16
+ US arrests Saudi employee of OpenAI for allegedly bugging its offices
+ How Ukraine’s data centre strikes have thrown Russia into turmoil
+ Anthropic warns rogue AI agents may ‘self-replicate’ to hijack everyday devices
+ CoreWeave targets ‘unlimited’ insurance money to fund AI build-out
* Markets

Sections

+ Markets Home
+ Alphaville
+ Markets Data
+ Private markets
+ Equities
+ Bonds
+ Currencies
+ Commodities
+ Crypto
+ Monetary Policy Radar
+ Wealth Management
+ Moral Money
+ ETF Hub
+ Asset management

Most Read

+ Houthis attack Saudi Aramco headquarters
+ Bank of America fined $1.2bn over money laundering failures
+ Germany puts Ukrainian ex-officer in the dock over Nord Stream sabotage
+ Chip stocks slide after Broadcom boss warns of ‘casino’ mentality in AI investing
+ Investors brave US Treasury rout to lock in highest yields in decades
* Climate
* Opinion

Sections

+ Opinion Home
+ Columnists
+ The FT View
+ The Big Read
+ Lex
+ Obituaries
+ Letters

Most Read

+ The art of living dangerously
+ How I used AI to become a chess grandmaster at 16
+ Why Trump is going for Zelenskyy’s jugular
+ How not to revive Europe’s auto industry
+ The battle over the AI-led future of banking has begun
* Lex
* Work & Careers

Sections

+ Work & Careers Home
+ Business School Rankings
+ Business Education
+ Europe's Start-Up Hubs
+ Entrepreneurship
+ Recruitment
+ Business Books
+ Business Travel
+ Working It

Most Read

+ Tougher competition for internships strains UK graduate jobs market
+ The ‘ungodly spending’ behind the creator economy
+ The treasures of Istanbul from the water
+ Why AI won’t kill the creative class
+ Workplaces are bracing for the smart glasses era
* Life & Arts

Sections

+ Life & Arts Home
+ Arts
+ Books
+ Food & Drink
+ FT Magazine
+ House & Home
+ Style
+ Puzzles
+ Travel
+ FT Globetrotter

Most Read

+ How I used AI to become a chess grandmaster at 16
+ Home of London’s oldest restaurant, Rules, given to National Trust
+ The cheap cocktails fuelling Sazerac’s rise
+ Florida’s ‘Versailles’ was meant to be a cautionary tale. Then came Trump
+ The Nobel Prize is not an exact science
* How To Spend It
* Stocks Game

MenuSearch

* Home
* World
* US
* Companies
* Tech
* Markets
* Climate
* Opinion
* Lex
* Work & Careers
* Life & Arts
* How To Spend It
* Stocks Game

Financial Times

SubscribeSign In

Popular Searches

* What is the latest news on the UK economy?
* Western support for Ukraine
* How will AI be regulated?
* UK inflation vs the world
* How will the UK economy fare in 2026?

European oil refineries’ margins collapse as input costs soar

Subscribe to unlock this article

Save over 40% on Standard Digital

was $540 now $299 for your first year.

Save now on essential digital access to trusted FT journalism on any device. Savings based on monthly annualised price, offer ends 28th October.

Subscribe now and save

* Global news & analysis
* Expert opinion
* FT App on Android & iOS
* FT Edit app
* First FT: the day’s biggest stories
* 20+ curated newsletters
* Follow topics and set up personalized alerts
* FT Videos & Podcasts
* 10 monthly gift articles to share

Explore more offers.

Trial

$1 for 4 weeks

Then $75 per month. Complete digital access with exclusive insights and industry deep dives on any device. Cancel anytime during your trial.

Select

* Global news & analysis
* Expert opinion
* FT App on Android & iOS
* FT Edit: Access on iOS and web
* FirstFT: the day's biggest stories
* 20+ curated newsletters
* Follow topics & set alerts with myFT
* FT Videos & Podcasts
* 20 monthly gift articles to share
* Lex: FT's flagship investment column
* 15+ Premium newsletters by leading experts
* FT Digital Edition: our digitised print edition

Premium Digital

Complete coverage

$75 per month

Complete digital access with exclusive insights and industry deep dives on any device.

Select

* Global news & analysis
* Expert opinion
* FT App on Android & iOS
* FT Edit: Access on iOS and web
* FirstFT: the day's biggest stories
* 20+ curated newsletters
* Follow topics & set alerts with myFT
* FT Videos & Podcasts
* 20 monthly gift articles to share
* Lex: FT's flagship investment column
* 15+ Premium newsletters by leading experts
* FT Digital Edition: our digitised print edition

Print

Save over 65%

was $409 now $129 for your first year

Save now on our curated print edition delivered Monday - Saturday\* plus our digitised print replica. Savings based on annual price.

Select

* Weekday Print Edition
* FT Weekend
* FT Digital Edition: our digitised print edition
* Global news & analysis
* Expert opinion
* Special features
* Exclusive FT analysis

Check whether you already have free access via your university or organisation.

Terms & Conditions apply

\*Hand delivery availability confirmed when you enter your address.

Explore our full range of subscriptions.

For individuals

Discover all the plans currently available in your country

DigitalPrintPrint + Digital

For multiple readers

Digital access for organisations. Includes exclusive features and content.

FT Professional

!Over one million readers pay to read the Financial TimesFind out why

Useful links

Support

Help CentreContact UsAbout UsAccessibilityCareersSuppliers

Legal & Privacy

Terms & ConditionsPrivacy PolicyCookie PolicyManage CookiesCopyrightSlavery Statement & Policies

Services

Share News Tips SecurelyIndividual SubscriptionsProfessional SubscriptionsRepublishingExecutive Job SearchAdvertise with the FTFollow the FT on XFT ChannelsFT Schools

Tools

PortfolioFT AppFT Digital EditionFT EditAlerts HubBusiness School RankingsSubsc