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Strait of Hormuz closures are driving a refining windfall for VLO. Monitor crack spreads and domestic inventory data to gauge the sustainability of the rally.

Brent crude holds near $109 as US military escort plans for the Strait of Hormuz face skepticism and Iranian threats. Traders are watching for escalation.

India's LPG consumption dropped 16.16% in April to 2.2 million tonnes as regional conflicts disrupted critical supply chains through the Strait of Hormuz.