Refiners Reap the Rewards of Geopolitical Chaos The war in Iran has provided a temporary boost to US refiners, but such gains are often short lived.
The recent profits announced by Marathon Petroleum, Phillips 66, and Valero Energy – a combined $12. 6 billion in the second quarter – should be viewed with skepticism.
The primary driver behind this surge is the ongoing Iran war, which has disrupted global oil supplies and increased production costs for refiners.