Markets

The intensifying war in Iran has split the domestic processing strategies of Asia’s largest oil consumers.

The escalation of the Middle East conflict in late Feb. 2026 has triggered a critical global jet fuel supply crisis, placing historic operational strain on international air travel, particularly across Europe and Asia.

The seven-week closure of the Strait of Hormuz has triggered a systemic fuel crisis across the Eastern Hemisphere.

As the conflict in the Middle East cuts traditional supply lines, European refiners are capitalizing on record-high margins and a shift in market structure.

The regional conflict has escalated into a systematic campaign against Middle Eastern refining and gas infrastructure, with Iranian drone and missile strikes targeting critical facilities from the Persian Gulf to the Red Sea.

As the US-Israeli conflict with Iran renders the Strait of Hormuz blockage, the world is struggling not just with high oil prices but with the physical inability to turn crude oil into usable fuels. 

The intensification of the US-Israel-Iran war between Mar. 02 and Mar. 06 has triggered a dual crisis of industrial paralysis and state protectionism.

The escalation of the US-Israel-Iran conflict between Mar. 02 and Mar. 06 has destabilized global petrochemical markets, severing critical trade arteries and forcing massive operational retreats.

As the global oil market grapples with a persistent surplus that has squeezed upstream drillers and pushed Brent crude prices down by approximately 10% over the last 12 months, US refiners have emerged as the primary beneficiaries.

Phillips 66 and Kinder Morgan Inc. have launched an open season for the proposed Western Gateway Pipeline, a new system designed to transport gasoline and other refined motor fuels from the Midwest/Gulf Coast refining hubs to California, Arizona, and Nevada.