Gasoline Refining Margins Surge $6.45 to $40.75/Barrel on Supply Disruptions
XOM sits 51% above its 52-week low of $105.525.
Summary
Northwest European gasoline refining margins jumped $6.45 to $40.75 a barrel on Tuesday, driven by renewed violence in Libya's Zawiya region and a Ukrainian attack on a Russian refinery in Orsk. ExxonMobil was an active seller in the physical market, moving 5,800 tons of E5 and 7,100 tons of E10 barges. EU and UK gasoline exports have halved to 510,000 bpd in August, tightening supply. This follows Exxon's Q2 earnings of $14.5 billion and its July warning that fuel prices will stay elevated in H2 2026 due to Iran war disruptions. Higher refining margins directly boost Exxon's downstream profits, adding to already record upstream earnings.
At the time of this announcement, XOM was trading at $159.76 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $656.9B. The 52-week trading range was $105.53 to $176.41. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.