US Gulf CoastFreight to Asia now costs $30-$35 a barrel, Valero says.

Asian refiners pay the war’s freight premium, and US rivals book it as profit.

Wider discounts on Canadian and Venezuelan heavy crude, which over 70% of Gulf Coast plants can process, cut feedstock costs, executives said.

Marathon Petroleum chief executive Maryann Mannen expects margins to stay elevated through at least mid-2027.

How each outlet framed it
Reuters
credits US Gulf Coast refiners' windfall to widened heavy-crude discounts, citing 70% of facilities configured for heavier crude and doubled Q3 margins

Sources: Reuters