Refining bottlenecks are emerging as the next big oil problem as Middle East skirmishes flare up

Gasoline prices hit an all-time high for Labor Day, driven by dwindling global refinery capacity and ongoing Middle East conflicts. As refineries struggle to keep up with demand, bottlenecks are forming, which could lead to even higher prices in the future. This situation underscores the fragility of global oil supply chains and highlights the urgent need for investment in refining infrastructure to avoid further economic disruptions. The implications are significant, potentially affecting everything from consumer spending to international relations as countries vie for control over energy resources.