Over the last two months, refineries and fuel storage facilities around the world have caught fire due to war (Russia) or accident (Australia, the United States, India and Mexico), adding more pressure to stressed oil and gas supply chains.

Global production of refined oil is normally around 100 million barrels a day. But this is under real strain. When Iran closed the Strait of Hormuz in February, it prevented 25% of global seaborne oil exports leaving the region. Iran also responded to strikes by the United States and Israel by launching attacks on oil and gas infrastructure in neighbouring states.

Ukraine’s recent attacks on Russian oil refineries have driven Russian output 12% lower than last year’s figures.

But while the spate of accidental refinery fires around the world only affect a small percentage of global output, they amplify the impact of the bigger supply shocks flowing from the Iran war.

This year’s unprecedented energy crunch has exposed deep structural weaknesses in how the global oil system operates – and how easily it can be disrupted. Refineries have become targets in war, while poor maintenance or accidents point to systemic stresses.

How refineries became a target

This year, oil refineries have become targets in two wars. Refineries and........

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