Shell refining margins reach record highs as wars hit supply

Filed 1h ago · Via Courthouse News · The Buffoon Desk

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Kings of Tara

Kevin MacLeod · incompetech.com · CC BY 4.0

Photo: Unknown authorUnknown author printed by Strobridge Lithograp · Public domain · via Wikimedia Commons

Shell reported that its refining margins jumped 75% in the third quarter, reaching $42 per barrel, a record level that surpasses the previous peak set after Russia's invasion of Ukraine. The surge comes as conflicts in the Middle East and Ukraine disrupt the production and export of refined fuels even as crude volumes rise.

Ukrainian drone strikes on Russian refineries prompted Moscow to ban exports of gasoline and diesel, tightening global supply further, while logistical snags complicate rerouting fuel elsewhere. Analysts say refining margins could climb even higher if Middle East flows or more refineries are disrupted; Shell's shares ticked up on the news while the broader market fell.

The full dispatch is available from the source below.

✒ FROM THE EDITORIAL DESK

When the tanks run empty somewhere else in the world, somebody's refinery turns that into a record quarter back home. Nobody at Shell did anything differently; the war just rearranged who gets squeezed and who gets a trophy. The invoice for all that still lands at the pump, same as always.

Source: Read the original at Courthouse News → Scored: Kings of Tara · Kevin MacLeod · CC BY 4.0