US refineries are running near maximum capacity to fill global fuel shortages caused by the Iran war and disruptions in Russia. While this has delivered record profits, prolonged high utilisation raises the risk of equipment failures that could deepen the global fuel crisis.

Nearly 10 million barrels a day of global refining capacity is offline...

US refineries are running near maximum capacity to fill global fuel shortages caused by the Iran war and disruptions in Russia. While this has delivered record profits, prolonged…