(Mark Felix/Bloomberg)Key Takeaways: U.S. refiners processed 17 million barrels of crude daily last week, the highest weekly average since September 2019, as they sought to meet fuel demand. Tight global fuel supplies, refinery disruptions and strong export demand have kept gasoline and diesel markets constrained despite near-record U.S. refining activity. Fuel markets have been left with little cushion after outages stemming from wars in Ukraine and Iran. To be sure, global crude oil markets have proven remarkably resilient this year, but the picture for fuels is far more fragile. Meanwhile, countries from Europe to South America are scrambling for fuel supplies, sending U.S. exports surging.