Trump’s comments on Iran ceasefire ending send crude prices higher, boosting refiners despite no direct supply impact.
U.S. refinery stocks rose near buy points after President Donald Trump declared the Iran ceasefire “over” amid renewed tensions in the Strait of Hormuz. Crude oil prices surged, though refiners’ supply remains unaffected by shipping disruptions in the region.
Refiners typically pass higher oil costs to consumers by raising gasoline prices more aggressively. The move follows a broader market trend where energy sector stocks have gained on geopolitical risks.
No immediate market reaction data was provided, but the shift reflects investor sentiment tied to Middle East instability and its impact on oil markets.