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High Global Fuel Prices Are About Refinery Issues as Much as Oil Supply
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Industrial Info Resources data show that in September 2026, 12.13% of global crude and condensate capacity was offline for various reasons.
By Brian Ford, Editor-in-Chief
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Drones and missiles reached Riyadh's airport, killing civilians from several countries and unraveling a multiyear ceasefire. The war did not escalate at the Strait. It moved inland, to runways.
Meanwhile, Washington bought diesel with sanctions relief. Trump eased pressure on Russian fuel, urged Kyiv to stop striking refineries, and announced an energy truce that Zelenskyy says Russia breached within hours over Kharkiv.
NatGas supply and demand is comfortable in the U.S., although Europe and Asia are different stories with Winter looming. Stateside, Isaias shut-ins are recovering, inventories are headed for a 10-year high, and warmth is capping the price rally.
And Beijing, quietly, has delayed its rare-earth controls into January. Have you considered that every relief on this Scorecard was purchased -- the diesel with sanctions, the minerals with tariffs, the quiet with a ceasefire nobody intends to keep?