Although U.S. oil refinery margins have halved since the middle of 2022, they remain at historically high levels and are likely to remain elevated through the summer of 2023
Global diesel stocks remain critically low a month after the fuel embargo went into effect, and any pickup in economic activity could deepen the imbalance between supply and demand
A recent article from Reuters’ John Kemp underlines the cyclical nature of oil and gas prices and their correlation to the Kitchin and Juglar business cycles