Shandong independent refineries likely to slow production in Oct on feedstock shortage

US-Iran tensions and Middle East unrest have pushed Brent to $107/bbl and raised imported crude premiums, squeezing Shandong independent refineries short on feedstock. Early-September arrivals were limited, offering little relief. Most refineries expect pressure before mid-October, some as early as early October.

When the ongoing US-Iran standoff continues to unsettle markets, with persistent Middle East tensions driving international crude prices steadily higher, Brent has climbed to a high of $107/bbl, and differentials across crude grades remain elevated. Amid rising imported crude costs, tightening crude availability at independent refineries has raised concerns