India is on track to export the highest volume of refined petroleum products in months as refining margins have jumped with the re-escalation of the Middle East conflict.
Shell PLC (LSE:SHEL, NYSE:SHEL) shares jumped over 2% after it said stronger trading and improved refining margins should support second-quarter performance, although production has been hit by disruption to output from Qatar following the war in the Middle East.
Marathon Petroleum booked an adjusted net income of $249 million, or $0.77 per diluted share, for the fourth quarter of 2024. This is significantly lower compared to the adjusted net income of $1.5 billion, or $3.98 per share, for the fourth quarter of 2023.