Refined oil products surge as Iran war disrupts global energy supplies
Updated
Updated · MarketWatch · May 8
Refined oil products surge as Iran war disrupts global energy supplies
11 articles · Updated · MarketWatch · May 8
In the US, jet fuel has jumped 72%, gasoline 52% to $4.55 a gallon, and gasoline output is down 340,000 barrels a day from a year earlier.
J.P. Morgan said crude near $101 a barrel understates the shock, with supply bottlenecks shifting pressure into fuels consumers buy and refiners chasing extraordinary jet-fuel margins.
Asia, hardest hit by Strait of Hormuz shipping disruption, saw refined-product prices rise 60% to 120% from January to April, raising risks of further fuel inflation before the US Memorial Day driving season.
The war's true weapon isn't crude oil. What hidden bottleneck is crippling consumers at the pump and in the air?
Is this crisis exposing the limits of U.S. energy power and forcing a faster transition to post-fossil fuel technologies?
With fuel supplies dwindling, can diplomacy reopen the Strait of Hormuz before a worldwide recession hits?