U.S. Refinery Utilization Hits 96.2% as Fuel Markets Tighten Worldwide

U.S. refinery utilization has been near-capacity for weeks, with American fuel exports jumping to record high levels amid tight global fuel markets in the wake of the Iran war and the closure of the Strait of Hormuz. The average refinery capacity utilization across the United States was 96.2% as of July 17, the latest reporting week available, up from 94.7% in the same week in 2025, according to data from the U.S. Energy Information Administration (EIA). The average may be just above 96% nationwide, but the Midwest and Rocky Mountains regions,…