Refinery damage keeps fuel costly
4h
Oil flows through the Strait of Hormuz increased, but tight diesel supplies and damaged refineries kept fuel prices elevated worldwide, with transport and refining costs driving markets.
by Ian Bremmer
Reposted by Peter Matanle
Ukraine destroying Russian oil refining infrastructure increases the global supply of crude oil (making it cheaper) because Russia has to export the oil it otherwise would've refined into diesel/gasoline for domestic consumption.
Ukraine destroying Russian oil refining infrastructure increases the global supply of crude oil (making it cheaper) because Russia has to export the oil it otherwise would've refined into diesel/gasoline for domestic consumption.