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India’s Fuel Exports Set to Soar in July as Refining Margins Jump
Indian refiners are expected to ship 1.55 million barrels per day of light and middle distillates in July, Kpler said, as margins climb.
- India is increasing refined petroleum exports to an estimated 1.55 million barrels per day in July, capitalizing on soaring refining margins amid tight Asian fuel markets, according to commodity analysts Kpler.
- Global benchmark Brent crude futures surged 34% to $94.07 per barrel on Wednesday following the collapse of the U.S.-Iran ceasefire two weeks ago, creating regional supply constraints.
- Refiners' profit margins, known as the crack spread, hit record highs last week, benefiting independent firms like Marathon Petroleum, Valero, and Phillips 66 as their stocks climb.
- Persistently high diesel crack spreads push costs throughout the supply chain, with the AAA national average gas price ticking up 17 cents over the last month to $4.06.
- Analysts note that Russia is transitioning from a major fuel exporter to a potential importer as refining capacity remains constrained following years of plant closures and war-related damage.
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7 Articles
7 Articles
·London, United Kingdom
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India's refined product exports surge, aiding Asia's fuel crisis amidst geopolitical tensions and rising crude prices.
·Chennai, India
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Coverage Details
Total News Sources7
Leaning Left0Leaning Right3Center3Last UpdatedBias Distribution50% Center, 50% Right
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
50% Right
C 50%
R 50%
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