EnergyReader · 2026-08-02 13:35

Refining Margins Hit $70 as U.S. Product Stocks Stay Depleted

By EnergyReader Newsroom · August 2, 2026

Bloomberg reported refining margins surging toward $70 per barrel even as ICE Brent crude front-month settled at $91.04 on Saturday (2026-08-01) following U.S.-Iran de-escalation signals. On Thursday (2026-07-30), Bloomberg Surveillance put it plainly: "Crude is not the issue. Gasoline, distillate and jet are," with analysts pressing on how thin the product cushion had become.

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US Lower-48 working gas storage (EIA weekly) → EIA weekly US commercial crude inventories (ex-SPR) → Crude implied volatility (OVX-type) →

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