The blockade in the Hormuz Strait severely impacts the refined oil market! Goldman Sachs warns: by 2026, refinery profit margins will remain significantly high.

According to the Zhitong Finance and Economics APP, Goldman Sachs stated in a report on Monday that the impact of the interruption of shipping in the Strait of Hormuz on the finished oil market is greater than its impact on the crude oil market, and refining margins are expected to remain significantly high throughout 2026. Goldman Sachs predicts that for the remaining time in 2026, refining margins will be maintained at 2 to 3 times the average level from 2013 to 2019. Among them, diesel margins are expected to be $19 to $26 per barrel higher than the predicted level before the outbreak of the Middle East conflict.