Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Deep Fundamental Analysis

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Commodities

<ul>
<li>Refining margins have become the key driver of energy profits as tight fuel markets, limited spare capacity, and geopolitical disruptions reshape the downstream outlook.</li>
<li>Refiners are capturing outsized profits as product markets remain tighter than crude, with delayed capacity recovery and supply disruptions supporting elevated crack spreads into Q3.</li>
<li>Refining margins are unlikely to normalise quickly, as refinery disruptions in the Middle East and Russia, coupled with limited spare capacity, continue to constrain global fuel supplies.</li>
</ul>


Refining margins have become the key driver of energy profits as tight fuel markets, limited spare capacity, and geopolitical disruptions reshape the downstream outlook.
Refiners are capturing outsized profits as product markets remain tighter than crude, with delayed capacity recovery and supply disruptions supporting elevated crack spreads into Q3.
Refining margins are unlikely to normalise quickly, as refinery disruptions in the Middle East and Russia, coupled with limited spare capacity, continue to constrain global fuel supplies.


The Refining Advantage: Why Fuel Markets, Not Crude Oil, Are Driving Energy Profits

RBOB Gasoline Futures

The Refining Advantage: Why Fuel Markets, Not Crude Oil, Are Driving Energy Profits