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Market Chatter: War Disruptions Lift Fuel Prices as US, Indian Refiners Ramp Up Exports

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Indian and US refiners are boosting fuel exports as wars in Iran and Ukraine disrupt global supplies, push up prices and force importers to pay hefty premiums for replacement barrels, Reuters reported Wednesday.

US distillate exports hit a record 1.9 million barrels per day in the week ended Aug. 7, while jet fuel exports neared a record, government data showed.

Indian refiners are also reportedly benefiting as Asian markets tighten, with strong demand from Indonesia and other importers. But competition is intensifying as China relaxes export restrictions.

Refiners face a balancing act, however, as strong overseas margins compete with peak domestic demand and pressure to contain fuel prices, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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$KMI