The Middle East’s capacity for making fuels is teetering after Kuwait reduced production at three major plants due to a lack of storage and Bahrain’s oil refinery was struck by an Iranian missile.
The affected facilities lie within the Persian Gulf region where refiners are unable to secure tankers because of the effective closure of the Strait of Hormuz, a narrow outlet to the Arabian Sea on Iran’s southern coast.
The disruptions are a blow to global fuel markets which rely on the Middle East for everything from jet fuel and chemical feedstocks to diesel. The region has led the ...
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