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Finance· Commodities

Vitol CEO: Global Fuel Markets Are "Tight and Inflexible"

Global fuel markets face significant supply constraints despite increased petroleum flows from the Persian Gulf, according to Vitol Group's CEO Russell Hardy, who highlighted that refined product inventories continue to decline due to insufficient refinery capacity. The tightness stems from geopolitical disruptions affecting refineries in the Middle East and Russia, while U.S. facilities operating at near-maximum capacity lack room for necessary maintenance.

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