European refiners ramp up runs on strong margins despite high gas costs

European refiners are ramping up runs, boosted by strong distillate and gasoline cracks and a dearth of diesel supply, despite the high natural gas and hydrogen costs. According to S&P Global Commodity Insights, benchmark refining margins in Europe are robust amid very strong distillate and gasoline cracks. ARA gasoline and ULSD cracks reached $26/b and $57/b, respectively, on April 29,…