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ReportedShipping, energy & marketsGlobal fuel markets

Shell forecasts a record $42-a-barrel third-quarter refining margin

Mountain Time
Local time
11:30 AM UTC
Where
Global fuel markets

Shell said its indicative third-quarter refining margin is expected to reach $42 per barrel, up from $24 per barrel in the second quarter, according to an OilPrice.com report on the company's quarterly update. The report attributed tighter fuel markets to disrupted Middle East supplies and Russia's diesel-export ban.

Why it matters

The projected margin indicates that fuel-product shortages, rather than crude prices alone, are increasing costs for refiners and downstream fuel buyers.

Source

Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels