Middle East War Triggers New Global Refining Boom The ongoing conflict in the Middle East has triggered a global oil refining boom, sending profits soaring for the world's largest oil companies and top refiners.
A major military escalation has disrupted global crude supplies, leading to record high refining margins.
This time, it's not just a case of supply chain disruption; the conflict in Iran has created a perfect storm of tight fuel markets, restricted refining capacity, and artificially inflated prices.