# Asia refining margins rocket to highest in nearly 4 years on Hormuz supply disruption | Reuters

> Asian refining margins surged to their highest in nearly four years as the US-Iran war suspended trade through the Strait of Hormuz, which normally carries over 20% of daily global oil supply. Oil and gas prices have risen sharply.

- Date: 2026-03-05 · published 2026-03-05T12:00:00.000Z
- Category: geopolitics · region Asia · magnitude high
- Page: https://feedsoft.ai/events/5535-asia-refining-margins-rocket-to-highest-in-nearly-4-years-on-hormuz-supply
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Higher refining margins signal tight product supply in Asia and raise energy input costs, supporting prices for biofuel-linked oils and freight.

## Read by commodity

- SBO: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-03-05 | 1 | +8.6% | 3.3 | Record Asian refining margins on Hormuz suspension signal severe supply tightness feeding into crude prices. |
| BRENT | 2026-03-06 | 5 | +34.2% | 7.0 | Refining margins surging on suspended Hormuz trade reflects the supply shock that supported crude demand and prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2026-03-20 | [Oil jumps to highest settlement since July 2022 as more Mideast supply disrupted \| Reuters](https://feedsoft.ai/events/6636-oil-jumps-to-highest-settlement-since-july-2022-as-more-mideast-supply.md) | -1.8% | -21.1% |
| DIESEL | 2025-10-28 | [Global refining margins soar as sanctions threaten Russian supplies \| Reuters](https://feedsoft.ai/events/22593-global-refining-margins-soar-as-sanctions-threaten-russian-supplies-reuters.md) | -1.4% | -1.1% |
| DIESEL | 2026-10-02 | [Oil Rises as Mideast Tensions Sustain Supply-Disruption Fears](https://feedsoft.ai/events/9320-oil-rises-as-mideast-tensions-sustain-supply-disruption-fears.md) | +8.4% | +0.3% |
| DIESEL | 2018-09-29 | [Brent hits 4-year high as U.S. sanctions on Iran tighten supply](https://feedsoft.ai/events/63234-brent-hits-4-year-high-as-u-s-sanctions-on-iran-tighten-supply.md) | +1.6% | -2.1% |
| DIESEL | 2026-03-04 | [Oil settles at highest in over a year for second straight day as Iran crisis escalates, snarls Hormuz flows \| Reuters](https://feedsoft.ai/events/8004-oil-settles-at-highest-in-over-a-year-for-second-straight-day-as-iran-crisis.md) | +6.1% | +30.8% |
| BRENT | 2026-03-20 | [Oil jumps to highest settlement since July 2022 as more Mideast supply disrupted \| Reuters](https://feedsoft.ai/events/6636-oil-jumps-to-highest-settlement-since-july-2022-as-more-mideast-supply.md) | +0.8% | -14.0% |
| BRENT | 2018-06-29 | [Oil hits new multi-year high as market tightens on lost supply](https://feedsoft.ai/events/8782-oil-hits-new-multi-year-high-as-market-tightens-on-lost-supply.md) | +0.2% | -3.3% |
| BRENT | 2026-10-02 | [Oil Rises as Mideast Tensions Sustain Supply-Disruption Fears](https://feedsoft.ai/events/9320-oil-rises-as-mideast-tensions-sustain-supply-disruption-fears.md) | +7.5% | +9.7% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/asia-refining-margins-rocket-highest-nearly-4-years-hormuz-supply-disruption-2026-03-05/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.