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22.09.26 - 21:39
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Goldman Warns Nightmare Refining Crisis Could Prolong Diesel, Gas Price Pain Through 2027 (ZeroHedge)
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Goldman Warns Nightmare Refining Crisis Could Prolong Diesel, Gas Price Pain Through 2027
Goldman energy analyst Nikhil Bhandari warned in a note on Monday that the global refining system is too stretched to support a full recovery in fuel demand while inventories rebuild. This suggests that fuel prices will remain elevated into next year.
Bhandari told clients that refining margins must remain elevated to restrain consumption and limit restocking, keeping demand within the industry's ability to supply diesel, gasoline and jet fuel.
On an ex-China basis, Bhandari expects 300,000 barrels a day of refining capacity additions in 2026 to be offset by 600,000 barrels a day of closures, leaving another year of net capacity losses.
Bhandari said if demand rebounds to 1% above 2025 levels while buyers attempt to replace half of this year's inventory draws, refinery utilization would have to reach unprecedented levels. This is a territory that he said, "We do not view as operationally r...
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22.09.26 - 14:03
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′Survival Mode′ - Farmers Crushed As Trump′s War On Iran Sends Diesel Cost Soaring (ZeroHedge)
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'Survival Mode' - Farmers Crushed As Trump's War On Iran Sends Diesel Cost Soaring
As Donald Trump's war on Iran nears the seven-month mark, the economic damage is reverberating all over the world, and all across the United States. Among the Americans who are feeling the most pain from a war their federal legislators never declared are the nation's farmers, who are growing increasingly desperate under the weight of rising costs for diesel, fertilizer and equipment.
It's a demographic that leans hard to the right, but now feels let down by Trump and others in Washington. "It's his war that caused this, this war in Iran. We're not winning that war. And many farmers feel like we shouldn't be there," farmer John Boyd, Jr told CNN. Trump says the war in Iran is necessary to prevent the country from building a nuclear weapon. However, going back to 2007 and up to the eve of the war, the US intelligence committee has repeatedly assessed that Iran was not building one.
"I'v...
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