European Refineries Brace for Aviation Collapse As Blockade Holds #
A record $80 per barrel crack spread is currently rewriting the operating margins of global aviation. In Madrid on Tuesday, European Union Energy Commissioner Dan Jorgensen stood before reporters to confirm the mathematical reality of the Strait of Hormuz closure. "The coming summer will be difficult for Europe due to fuel shortages caused by the war in Iran and the closure of the Strait of Hormuz even in the best-case scenario," Jorgensen stated, mapping the systemic failure of the region's…