Shell Expects Record Refining Margins
Shell projects third-quarter refining margins will reach a record forty-two dollars a barrel. The Middle East conflict has tightened global fuel supplies and driven up energy prices.
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Shell plc expects third-quarter refining margins to jump to $42 a barrel, up from $24 in the previous quarter. The surge follows conflict in Iran that tightened global fuel supplies and drove up prices. The windfall is expected to boost cash flows for major energy producers.
