Gasoline topped $4.40 a gallon in the U.S. in September, and Brent has sat above $100 a barrel since early September, up from around $60 before the Iran war started. Drivers have responded about how you'd expect. New hybrid sales in the U.S.
rose 24% through the third quarter, battery-electric registrations jumped 52% across Europe in August, and the International Energy Agency figures EVs will make up nearly 30% of global car sales this year. That should have been a gift to the electrification trade, but a Bloomberg gauge of 104 EV-linked companies…
Refining & Products Context
Downstream margins — or crack spreads — have experienced considerable volatility as refinery operators navigate feedstock cost fluctuations, product demand seasonality, and evolving fuel specifications. Gasoline and distillate margins serve as key profitability levers for integrated refiners.
Refinery utilization rates, particularly in the U.S. Gulf Coast and Northwest European hubs, directly influence product availability and pricing. Unplanned outages, scheduled turnarounds, and weather-related disruptions are recurring factors that tighten regional product supply.
What to Watch
Key metrics to watch include refinery utilization rates, weekly distillate inventory builds or draws, and crack spread movements, which serve as real-time indicators of refining profitability across major processing hubs.
Read original article at OilPrice.com