Iran’s parliament speaker pushed back at U.S. claims of energy leverage on Sunday, arguing Tehran still holds unplayed supply cards as Strait of Hormuz oil exports remain 95% below normal flows.
Refining margins in the United States hit $42.41 per barrel on Tuesday, more than double the five-year average for this time of the year, as refinery maintenance and unplanned outages reduce capacity while the global fuel market is tightening with the Chinese reopening and the looming EU ban of Russian fuel imports by sea.