Global refining margins have surged to multi-year highs due to sanctions on Russia, outages, and maintenance. U.S. crack spread nears $32.13 per barrel. Ukrainian drone attacks disrupt operations. European diesel margins hit $33.90, while European refining throughput increases. Major oil companies benefit from higher margins. Diesel cracks in Europe persist, with shortages exacerbating import needs. US diesel margins hit $49.12.

Refining profitability is at a two-year high, with Brent crude prices supported by strong refined fuels market. European diesel margins at $33.90. IEA forecasts increased European refining throughput. Major oil companies see significant profit increases. Structural diesel shortage in Europe persists, with diesel cracks expected to remain high. US diesel margins hit $49.12, highest since October 2023.

Read more at Yahoo Finance: Global oil refining profits surge and may stay strong