US and Indian Fuel Exporters Reap War Profits

Refiners in the United States and India are capitalising on global fuel supply disruptions caused by ongoing conflicts. High export demand and surging margins have driven record shipments despite domestic pressures.

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FILE PHOTO: Storage tanks of an oil refinery of Essar Oil, which runs India's second biggest private sector refinery, are pictured in Vadinar in the western state of Gujarat, India, October 4, 2016. REUTERS/Amit Dave/File Photo

Refiners in India and the United States are capturing billions in export windfalls as wars in Iran and Ukraine disrupt global fuel supply chains. The conflict-driven shortages have sent international fuel prices surging during peak summer demand.

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