The Iran war has tightened global fuel supplies, pushing refining margins to record highs as disruptions in the Strait of Hormuz, reduced Asian refining, and export restrictions squeezed diesel, gasoline, and jet fuel markets.

War-driven supply disruptions have turned oil refining into Big Oil's biggest profit engine, but Reuters columnist Ron Bousso says the windfall may prove temporary as capacity…

Oil and gas giants raked in massive spring profits while fighting between Iran and the US impeded petroleum shipments and consumers around the world paid more for fuel and…