Major Australian Refinery Fire Threatens Fuel Supplies Amid Global Energy Crunch

A major fire at Viva Energy’s Corio oil refinery in Geelong was brought under control after a suspected gas leak sent flames reaching 200 feet into the air. The facility, which has a capacity of 120,000 barrels per day, is a critical asset supplying 10% of Australia’s total fuel requirements. While petrol production has been disrupted, the company confirmed that diesel and jet fuel production remains active and functional. This incident intensifies concerns over national fuel stability at a time when international energy markets face significant strain. Analysts are monitoring the impact on Brent Crude and WTI Crude benchmarks as the refinery manages this partial operational halt. Authorities continue to assess the long-term implications for supply chain security and energy risk premiums.