Exxon, Chevron Warn Fuel Prices to Endure as War Knocks Refining

ExxonMobil and Chevron stated that fuel prices are expected to remain elevated even if crude oil prices decline, citing reduced global refining capacity resulting from conflicts in Russia and the Middle East. Both companies identified the shortage of refining capacity as a limiting factor on fuel supply. The refineries affected by the conflicts have not resumed full operations.

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