How the war in Iran is squeezing Irving Oil

Irving Oil, Canada’s largest refinery, is scrambling to replace longstanding Saudi crude supplies after disruptions tied to the war in Iran, forcing purchases from more expensive or logistically complex sources. That shift is likely to raise feedstock costs, compress refining margins and increase regional fuel-price volatility and supply risk in Atlantic Canada.

Analysis

Irving Oil, Canada’s largest refinery, is scrambling to replace longstanding Saudi crude supplies after disruptions tied to the war in Iran, forcing purchases from more expensive or logistically complex sources. That shift is likely to raise feedstock costs, compress refining margins and increase regional fuel-price volatility and supply risk in Atlantic Canada.