Russian refinery runs have fallen to 3.8 mbd in June, 1.5 mbd below the start of the year, making Russia one of the largest contributors to today’s exceptionally weak global refining activity.
PremiumHormuz remains primarily a crude story. The next challenge for the market - in light of the unprecedented blowout in crack spreads we have repeatedly pointed out in recent weeks...WTI Crude vs 321 crack spread. Trump about to bomb refiners pic.twitter.com/TYrMzLEzaB
— zerohedge (@zerohedge) July 1, 2026
JPMorgan shifts focus from Hormuz oil chokepoint to Russian refining crisis
JPMorgan shifts focus to refining capacity, Russian crude exports amid market changes
Oil Refiners Are Cashing In on a Market That Won’t Stay Broken | OilPrice.com
Trump’s time is running out to avoid a nightmare Strait of Hormuz scenario | Fortune
Fuel Refining Margins Hit Record Highs as Markets Tighten | OilPrice.com
China’s Refinery Runs Crash to Pandemic Lows as Crude Imports Collapse | OilPrice.com
Strategic Oil Stocks Back in Focus as Hormuz Disruptions Persist
JPMorgan analysts shift oil market focus from Strait of Hormuz risks to Russian refining crisis, with refinery output down nearly…
JPMorgan shifts focus to refining capacity and Russian crude exports. WTI reaching $110 in July 2026 at 4.5% YES.
Global refining margins have hit record highs, greatly benefiting producers. Yet, while fuel prices remain elevated due to tight…
Refining margins have surged to record highs as crude prices have fallen while gasoline, diesel, and jet fuel remain scarce,…
US refiners profit from Hormuz disruptions as crude price odds decline; new all-time high by September 30 at 3.7% YES, by…
Oil exports through Hormuz fell to one-third of pre-war levels in June. WTI reaching $110 in July 2026 at 1.7% YES.
