Global distillate refining margins plummet on weak demand

NEW YORK (Reuters) - Margins to refine crude into distillates like heating oil and diesel have slumped around the globe due to disappointing demand, prompting speculation that some refiners could start to reduce processing rates.In the United States, imports from markets including Europe have boosted supply, while milder weather has undercut distillate demand, which typically rises during winter. That is oversaturating a market, especially in the Northeast - the country's biggest heating oil..