Iran aims to restore majority of refining capability within two months, oil ministry official says - Reuters

<a href="https://news.google.com/rss/articles/CBMiyAFBVV95cUxQSktOaDJJa2VRS3hkeTZtcWsxb2g2MVM2dzl5bDBRRV9naHhnbVNJbjROa0taM2ZTcElmQTJEQXdSRGl4ZDAwcFhjQmcxbVBZTEhVX1I2RzhMV3E3YWdORE5oZ2loSXM0TUlXRHotTTFxTm1JTUgtVHpZeEZiekhXTERvMXVGLWdfX0MybHdleWk5ckpOZVhvaElJUTViWkdsT1Rob29ZR3JoS3lTNC1aRGtnWjF4eFVkdy12dGJDWkFPMTY3aDZJUQ?oc=5" target="_blank">Iran aims to restore majority of refining capability within two months, oil ministry official says</a>&nbsp;&nbsp;<font color="#6f6f6f">Reuters</font>

Gulf Coast refiners are experiencing the strongest margins in years as disruptions to Middle Eastern oil flows from the Iran war increase demand for U.S. fuel exports. Asian and European refiners have been impacted by a slump in Middle Eastern crude exports due to Iran's blockade of the Strait of Hormuz, forcing some to cut production.

Iran expects to restore most damaged refining and distribution facilities to 70-80% of their pre-attack capacity within one to two months, according to a senior oil official. Repair work has begun, with part of the Lavan refinery expected to resume operations within about 10 days.

Global crude prices dropped 14% to $93.93 after the Strait of Hormuz reopened under a 14-day ceasefire. However, India's crude oil supply chain remains under severe strain due to tanker congestion, elevated freight costs, and disrupted Gulf production, with full normalization expected to take months.