Oil up on concerns over Iran sanctions, strong refining margins

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Published25 FEB 25 - 08:35 Reading time minutes

“Globally complex refining margins are looking robust, with strong fuel oil and distillates crack, particularly in USGC and NEW benefiting from the heating oil demand from the cold snap,” said Sparta Commodities analyst Neil Crosby in a note, referring to the U.S. Gulf Coast and Northwest Europe.

Reuters, February 25, 2025 – Oil prices edged up for a second day, with Brent and WTI crude futures rising on concerns over tighter supplies due to fresh U.S. sanctions on Iran. Neil Crosby from Sparta highlighted robust global refining margins, driven by strong fuel oil and distillate demand, particularly in the U.S. Gulf Coast and Northwest Europe amid a cold snap.

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