“The U.S. Environmental Protection Agency proposed Tuesday that larger #refiners must blend more #biofuels over the next two years. The move comes ahead of November’s congressional #elections and appears aimed at #farmState #voters.” #oilPrices

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But it has so far resisted pulling the trigger on an #export #ban, which #energy analysts have said could prompt #refiners to slash production and force up the prices of other products such as #petrol and jet fuel.

8 listed independent US #refiners are expected to report combined profits worth $32.4bn in the 2-quarters since the #war began, compared with $6.8bn in the same period last year.

US #refiners are on course to report a more than fourfold increase in profits due to surging diesel and petrol prices caused by Donald Trump’s #Iran #war and Ukrainian attacks on #Russian energy facilities, chart @data.ft.com
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