U.S. refiners hit wartime highs as Iran war drives record crude runs

U.S. fuel refiners are operating at the highest capacity since the Iran conflict began, processing 17.4 million barrels of crude oil per day last week—the most since September 2019. The surge comes as global fuel markets tighten due to disruptions in the Persian Gulf and damage to Russian refineries, pushing diesel margins above $100 per barrel. Jet fuel production has now exceeded 2 million barrels daily for 18 straight weeks, while gasoline output has edged higher despite remaining below seasonal averages. The Energy Information Administration reported the record throughput, underscoring how refiners are maximizing output to act as a global supplier of last resort amid persistent supply chain pressures.