EnergyReader · 2026-08-06 11:59

Refining margins triple while crude slides — a mismatch oil traders may regret

By EnergyReader Newsroom · August 6, 2026

A European supermajor reported adjusted net income jumped 68% year-on-year to $6 billion in the second quarter of 2026, powered by refining margins that nearly tripled from the first half of 2025. The European Refining Margin Marker rose to $12.4 per barrel, up from $4.3 a barrel a year earlier and 19% higher than the first quarter. ExxonMobil and Chevron also reported their highest earnings in years during the week of August 3, drawing criticism from President Trump, who said they are making "too much money."

This piece has moved into our archive. We keep the full historical record — pricing, storage, weather, positioning — for our own research, and license access to it separately. Contact us about archive access →

What to watch Track the live series behind this story — history, latest readings and our coverage.

NYMEX WTI crude futures, front-month → EIA weekly US commercial crude inventories (ex-SPR) → Crude implied volatility (OVX-type) →

Connected coverage Stories linked to WTI through the market graph: same hub, spread, route or driver.

NYMEX WTI Slides to $96.08 as US Rig Count Hits 595 and Output Nears 14 Million bpd 35m ago · WTI same market WTI Crude Twice Sold Peace Deals That Repriced Higher Each Time 17h ago · WTI same market Shell Warns Hormuz Supply Buffers Near Their Limit as Brent Tops $100 9h ago · Brent via Global Crude Balance Eneos and Idemitsu Pay $38 Premiums for Oman Crude as Saudi Pipeline Stays Shut 18h ago · Dubai Crude via Global Crude Balance Fed Downplays Oil Shock as Triple-Digit Brent Keeps Rate-Hike Bets Elevated 10h ago · Brent via Global Crude Balance Saudi Aramco Cuts European Term Buyers From October Crude Allocations 1h ago · Saudi Aramco same desk

Get this in your inbox

Daily briefings for commodity traders

Related Markets

Crude Oil ExxonMobil Chevron