Global Refinery Stress Outlook During the Hormuz Crisis Global Refinery Stress Outlook During the Hormuz Crisis As of April 12, 2026 · Focus: refinery cutbacks, shutdown timing, and the meaning of the two-week ceasefire window This report explains where refinery stress is already visible, where it is likely to deepen next, and why the current two-week ceasefire matters far beyond diplomacy. The…