(Adds details from paragraph 2 onwards)
Oct 31 (Reuters) - Refiner HF Sinclair reported a loss in the third quarter compared to a year-ago profit on Thursday, hurt by a slump in margins, especially in the West and Mid-Continent regions, due to an oversupply of fuel.
The Dallas-based refiner posted a loss of $75.9 million, or 40 cents per share, for the quarter ended September 30, compared with net income of $790.9 million, or $4.23 per share, a year earlier.
Refiners globally have seen a drop in profitability on soft consumer and industrial demand, especially in China, because of slowing economic growth and the increasing adoption of electric vehicles.
U.S. refinery margins, measured by the 3-2-1 crack spread , dipped to $14.28 in mid-September, the lowest since early 2021, reflecting lackluster fuel demand.
HF Sinclair's refinery gross margin was $10.79 per produced barrel in the third quarter, compared with $26.27 a year earlier.
However, its refinery utilization averaged 101.2% in the quarter, compared with 88.8% in the year-ago quarter.
(Reporting by Seher Dareen in Bengaluru: Editing by Tasim Zahid)
((Seher.Dareen@thomsonreuters.com; If in India call +91 74832 70128;))
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