Soaring fuel prices have been a boon for U.S. refiners this year. Growing demand and tightening supply are helping push refining margins even higher. American refiners are likely to continue seeing higher profits as Europe’s energy crisis worsens. A rally in fuel prices that has mirrored the strong performance of crude since the start of the year is set to push U.S. refiners’ profits high this year as demand continues to outpace supply. The first data is already in: Valero reported a twofold increase in its refining margin for the first quarter, which helped it book income that beat analyst expectations. The strong performance of one of the largest U.S. refiners was supported by tightening refining capacity, Reuters reported , on top of the already tight global supply of fuels. […]