Tanker rates are eating Asian and European refiner profits even as fuel prices rise. The shift to shorter crude routes is lifting North Sea Brent, and transport costs are now the swing factor. Watch d

What happened: Oil refineries in Asia and Europe are struggling to make a profit despite higher fuel prices because of surging costs of shipping crude oil. Why it matters: A shift to tapping crude from shorter routes has sent North Sea Brent oil higher, and refiners in Asia face profitability challenges mostly stemming from high transport costs. Key numbers: No specific figures were provided in the content.

Oil refineries in Asia and Europe are struggling to make a profit despite higher fuel prices because of surging costs of shipping crude oil.

A shift to tapping crude from shorter routes has sent North Sea Brent oil higher, and refiners in Asia face profitability challenges mostly stemming from high transport costs. Key numbers: No specific figures were provided in the content.