- Goldman Sachs said strikes on refineries in the Middle East and Russia have tightened already-stretched global refining capacity and driven refined-products margins to new highs.
- The bank more than doubled its forecast for profits from producing diesel and identified diesel as the focal point of the refined-products rally.
Quotes
“Rising strikes on refineries in the Middle East and Russia have further constrained already-stretched global refining capacity, pushing refined-products margins to new highs”
“Diesel remains at the epicenter of the rally.”