According to CoinMeta, global conflicts have driven the refining industry through historic changes, with profit levels reaching unprecedented heights. This year, attacks in the Middle East and Russia have led to a severe shortage of global fuel processing capacity, forcing refineries in other regions to operate at full capacity and enabling them to charge higher prices. In September, refining profits along the Gulf Coast of the United States reached a historic high of $72 per barrel, more than tripling from the beginning of the year. As prices for gasoline, diesel, and aviation fuel soared, similar increases were seen in refining profits in Europe and Asia. Marathon Petroleum, Valero Energy, and Phillips 66, which all split off from their parent companies over a decade ago, have now become part of the top 20 stocks performing best in the S&P 500 index this year, with their stock prices increasing by more than 100% since January.