Aug. 24 at 7:42 PM
$CLNE “Right now, the crack spread is being driven wider by a global refining squeeze rather than a crude oil shortage, York wrote. Ukrainian drone strikes have knocked out significant Russian refining capacity, and the Iran-U.S. conflict has damaged refineries in the Persian Gulf, even as crude production in both regions recovers.
Roughly 9 percent of global refining capacity is currently offline, he added. China, the world's largest crude importer and refiner, has also cut crude imports to an eight-year low while simultaneously restricting fuel exports, tightening global supply of finished products even further.”
https://www.rawstory.com/trump-fuel-costs/
With damage to global refining capacity from two wars, it appears CLNE will economic tailwinds for the foreseeable future.
