U.S. refining margins are worse than previously thought, Simmons Co. says in lowering its Q4 earnings forecasts for the industry. The firm projects Marathon Petroleum's (MPC -3.6%) EPS at zero, down from its earlier estimate of $0.70, and Holly Frontier (HFC -3.2%) will post a $1.20 gain, down from $1.26. Other refiners, including Valero (VLO -3.3%) and Delek (DK -4.7%), also are lower.
U.S. refining margins are worse than previously thought, Simmons Co. says in lowering its Q4...
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