MPC · News · 20260804N

Middle East Conflict Impact

Marathon Petroleum Corp · 2026-08-04 · Importance 59 · Surprise 60

The U.S.-Israeli war on Iran, attacks on Middle Eastern refineries, and closure of the Strait of Hormuz disrupted global fuel supply during the second quarter of 2026. These events pushed gasoline, diesel, and jet-fuel refining margins to multi-year highs and materially benefited Marathon Petroleum's refining business. Third-party reporting indicates management expects tight refining markets and elevated spreads to persist through 2027, although normalization remains a risk if geopolitical disruptions ease.

Key facts

• Refining margins reached multi-year highs due to fuel supply disruptions from the U.S.-Israeli war on Iran, including closure of the Strait of Hormuz and attacks on Middle Eastern refineries. source