The Kobeissi Letter(@KobeissiLetter):US oil refiners are set for an economic boom. The S&P 500 Oil & Gas Refining & Marketing index is now up +108% in 12 months, to ~3,250 points, near its all-time high. The index tracks large US companies involved in refining, marketing, and transporting oil and gas. This marks its largest 12-month increase since the 2020 pandemic recovery. Over the last 30 years, the only other comparable periods of strength were recorded in 2013 and 2005. Since April 2025, oil and gas refining stocks have surged a massive +175%. Markets are bracing for a US oil refining surge.

2026.09.01 23:13

US oil refiners are set for an economic boom. The S&P 500 Oil & Gas Refining & Marketing index is now up +108% in 12 months, to ~3,250 points, near its all-time high. The index tracks large US companies involved in refining, marketing, and transporting oil and gas. This marks its largest 12-month increase since the 2020 pandemic recovery. Over the last 30 years, the only other comparable periods of strength were recorded in 2013 and 2005. Since April 2025, oil and gas refining stocks have surged a massive +175%. Markets are bracing for a US oil refining surge.