Calumet Specialty Products Partners L.P. this morning reported a loss of $26 million in the second
quarter due to high crude oil prices and flagging product demand.
The Indianapolis-based refiner and processor of specialty
lubricants enjoyed a profit of $41.8 million in the second quarter a year ago.
Calumet’s quarterly sales fell 33 percent
from the year-ago period, from $671.2 million to $444 million.
“The significant increase in crude oil prices and continued
weakness in product demand resulted in a second quarter that was very challenging for all refiners, including Calumet,” said
Calumet CEO Bill Grube in a prepared statement.
The company’s shares closed unchanged yesterday, at $17.13 each.