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Middle East War Triggers New Global Refining Boom
Middle East War Triggers New Global Refining Boom
Submitted By Tsvetana Paraskova of OilPrice.com
For the second time this decade, a war has upended global oil markets and sent oil prices and refining margins to multi-year highs, benefiting the world’s biggest oil companies and top refiners.
The war in Iran has tightened fuel supply as crude oil has struggled to move through the Strait of Hormuz, triggering reduced refining throughput in Asia and a temporary Chinese ban on exports. The fuel markets tightened even more than the crude market to send refining...
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