US oil refiners have emerged as one of the few winners from the Iran war by reaping large profits from high diesel and jet fuel prices, boosted by their access to cheap North American supplies of crude.
The Iran war has created one of the largest oil supply disruptions in history, slashing production across the Gulf and curbing refining operations in the Middle East and beyond.
The shortfalls have throttled supply to refiners in Asia, sending fuel prices soaring, but many refiners in Europe have struggled to capitalise due to the soaring cost of crude oil offsetting their gains from rising sales.
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