Refining, Not Crude, Becomes the New Fault Line in Global Energy Markets

The Middle East fuel shock is exposing a weakness in the global energy system that crude prices alone cannot capture: the world has too little spare refining capacity in the right places, just as demand for diesel, jet fuel and gasoline enters its most politically sensitive season. Executives at the S&P Global Middle East Petroleum […] The post Refining, Not Crude, Becomes the New Fault Line in Global Energy Markets appeared first on The Middle East Observer.