Mideast War Escalation Threatens Recovery in Global Oil Refining

Middle East escalation and Russian export bans are constraining global crude supply and refinery throughput, pushing fuel margins to record highs across the US and Europe whilst Asian refiners face shipment delays. China's refineries, running at only 58% capacity, have the spare capacity to fill the gap if Beijing extends fuel export permissions beyond July.

This Wire brief sits within Fusion42's coverage of Energy Storage. Wire is Fusion42's founder-focused intelligence feed: each story is connected to the funds and startups it names — every one with a live profile on Raise or Scout — so founders can follow the capital and the momentum behind the headline rather than just the headline itself. Wire analysis is one of the live surfaces Arthur reasons over.