5 Energy Stocks Cashing In On The New Energy Crunch

The ongoing war in Iran has sparked a record earnings season for U.S. refiners, as the global demand for refined fuels continues to outpace supply. Brent crude prices have plunged to around $90 per barrel, down from a wartime peak of $126, but the shortage of refined products has only worsened. Refinery output in July was nearly 5 million barrels per day below the previous year, with Middle Eastern refineries struggling and Russian processing capacity at a 20-year low due to Ukrainian attacks.

U.S. refiners have responded by running at or near record utilization rates and exporting more fuel into a market beset by fuel shortages. The U.S. diesel crack spread reached an all-time high of $102.20 per barrel, leading to a surge in the shares of Marathon Petroleum, Valero Energy, and Phillips 66. Marathon Petroleum's stock has risen 116.89% year-to-date, while Valero Energy has gained 98% and Phillips 66 has increased by 75%.