Viva Energy's Refining Margins Likely to Stay Elevated for Some Time -- Market Talk

Dow Jones

Jun 24

Refining margins are likely to remain elevated for some time, benefiting Viva Energy, says Jefferies. That's because it will be a while before crude oil and oil product supply normalizes and inventories are replenished, analyst Michael Simotas says. "Notably, U.S. oil sanctions waiver this week allows Iran to transact in U.S. dollars (expires 21 August)," Jefferies says. This likely reduces the discount for Iranian crude that Chinese refineries have been purchasing. "We believe this is positive for regional refining margins," Jefferies says. It estimates Viva Energy's Geelong Refining Margin at US$14.60 per barrel in 2H, below market consensus expectations of US$16.00 per barrel. Jefferies retains a hold call on Viva Energy. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

June 23, 2026 19:05 ET (23:05 GMT)

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That's because it will be a while before crude oil and oil product supply normalizes and inventories are replenished, analyst Michael Simotas says. \"Notably, U.S. oil sanctions waiver this week allows Iran to transact in U.S. dollars (expires 21 August),\" Jefferies says. This likely reduces the discount for Iranian crude that Chinese refineries have been purchasing. \"We believe this is positive for regional refining margins,\" Jefferies says. It estimates Viva Energy's Geelong Refining Margin at US$14.60 per barrel in 2H, below market consensus expectations of US$16.00 per barrel. Jefferies retains a hold call on Viva Energy. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 23, 2026 19:05 ET (23:05 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Viva Energy's Refining Margins Likely to Stay Elevated for Some Time -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nViva Energy's Refining Margins Likely to Stay Elevated for Some Time -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2026-06-24 07:05</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  Refining margins are likely to remain elevated for some time, benefiting <a href=\"https://laohu8.com/S/VEA.AU\">Viva Energy</a>, says Jefferies. That's because it will be a while before crude oil and oil product supply normalizes and inventories are replenished, analyst Michael Simotas says. \"Notably, U.S. oil sanctions waiver this week allows Iran to transact in U.S. dollars (expires 21 August),\" Jefferies says. This likely reduces the discount for Iranian crude that Chinese refineries have been purchasing. \"We believe this is positive for regional refining margins,\" Jefferies says. It estimates Viva Energy's Geelong Refining Margin at US$14.60 per barrel in 2H, below market consensus expectations of US$16.00 per barrel. Jefferies retains a hold call on Viva Energy. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  June 23, 2026 19:05 ET (23:05 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"VEA.AU","symbol_name":"VIVA ENERGY GROUP LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2645576268","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2645576268","pubTimestamp":1782255900,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Refining margins are likely to remain elevated for some time, benefiting Viva Energy, says Jefferies. That's because it will be a while before crude oil and oil product supply normalizes and inventories are replenished, analyst Michael Simotas says. \"Notably, U.S. oil sanctions waiver this week allows Iran to transact in U.S. dollars ,\" Jefferies says. This likely reduces the discount for Iranian crude that Chinese refineries have been purchasing. \"We believe this is positive for regional refining margins,\" Jefferies says. It estimates Viva Energy's Geelong Refining Margin at US$14.60 per barrel in 2H, below market consensus expectations of US$16.00 per barrel. Jefferies retains a hold call on Viva Energy. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"VEA.AU":"VIVA ENERGY GROUP LTD","BK7065":"石油与天然气的炼制和营销"},"translate_title":"Viva Energy的炼油利润率可能会在一段时间内保持高位——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VEA.AU":0.9},"content_text":"Refining margins are likely to remain elevated for some time, benefiting Viva Energy, says Jefferies. That's because it will be a while before crude oil and oil product supply normalizes and inventories are replenished, analyst Michael Simotas says. \"Notably, U.S. oil sanctions waiver this week allows Iran to transact in U.S. dollars (expires 21 August),\" Jefferies says. This likely reduces the discount for Iranian crude that Chinese refineries have been purchasing. \"We believe this is positive for regional refining margins,\" Jefferies says. It estimates Viva Energy's Geelong Refining Margin at US$14.60 per barrel in 2H, below market consensus expectations of US$16.00 per barrel. Jefferies retains a hold call on Viva Energy. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  June 23, 2026 19:05 ET (23:05 GMT)\n\n\n  Copyright (c) 2026 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":true,"need_login_tip":false,"code":"91000000","status":"200"}}}