Oil Refining Margins Hit 20-Month High Amid U.S. Sanctions on Russia

Sanctions targeting Russia have driven global oil refining margins to their highest level in nearly two years.

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Terms & Concepts
  • Refining Margin: The difference between the value of refined petroleum products and the cost of crude oil, indicating profitability for refiners.
  • Sanctions: Economic measures imposed by one or more countries to restrict trade or financial relations, often for political or security reasons.
  • Crude Oil: Unrefined petroleum extracted from the ground, later processed into fuels and other products through refining.