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Refinery Profits Surge: Decoupling of Refined Product and Crude Oil Prices Due to War

Daily Reckoning ·

XOM ExxonMobil Holdings Corp
$168.50 +2.71%
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WTI WTI +3.64%
  1. 1Refiners have recorded average profit margins of 1% to 3% over the past decades.
  2. 2Ukraine recently attacked 24 out of 34 Russian refineries.
  3. 3Yemen's Houthis attacked oil infrastructure such as Saudi Arabia's eastern and western pipelines and refining assets.

So what's the key point?

Oil facilities in Russia and Saudi Arabia have been attacked due to war. Refiners are in a situation where they can earn more profit than before.

Source Daily Reckoning · View original ↗

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