Eight US refineries forecast $32.4B profit

Reports indicate that the profits of American independent refineries exceeded $32.4 billion over the past two quarters, representing a significant increase from $6.8 billion last year, driven by higher diesel and gasoline prices resulting from energy supply disruptions linked to the war with Iran and attacks on Russian energy facilities. U.S. refinery production reached its highest level in five years at 17.4 million barrels per day in August, with increased fuel exports. Companies like Marathon and Toyota benefited from record profit margins, prompting calls for taxes on extraordinary corporate profits and warnings about the potential consequences of imposing export restrictions. The refining sector continues to operate at full capacity to compensate for the global fuel shortage amidst international disruptions.

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