Fuel Markets Tighten as Refinery Response Lags After Strait of Hormuz Reopens, IEA Says

Fuel markets tightened during the summer demand peak as refineries and product supplies reacted more slowly than the crude oil market after the Strait of Hormuz reopened in June. According to Jin10, this assessment was included in the International Energy Agency’s monthly report, which said the delayed operational and supply response contributed to tighter fuel conditions.