U.S. Treasury Secretary Scott Bessent threatened Iranian airlines with a “shut-down” from tomorrow, by means of airports refusing to refuel them and sell tickets, in the latest verbal escalation in the U.S.-Iran war, despite reported efforts to achieve peace amid soaring energy commodity prices. “How do we do that? That if they land, you cannot provide them with fuel.
You cannot provide them with landing services, you cannot sell them tickets, or you will be knocked out of the dollar system,” Bessent told CNBC in the latest…
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.
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