BUSINESSglobal
UBS doubles refining margin outlook as supply shocks intensify
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Updated 2 hours ago
First seen March 21, 2026 13:17:41Stay on top of this story
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Quick Summary
UBS has more than doubled its 2026 European composite refining margin forecast to $14.8 per barrel from $7.5 per barrel, citing strikes on Middle East energy infrastructure that have knocked out more than 3.5 million barrels per day of regional refining capacity. The brokerage estimates at least Bahrain’s 400,000 barrel-per-day Sitra refinery and Kuwait’s Mina ...