Lipid biomarkers analyzed for ∼20-Myr interval from Middle Permian to Early Triassic. Major microbial community changes occurred at the GLB and PTB horizons. Limited marine environmental deterioration at Guadalupian–Lopingian boundary (GLB). Different triggers for two episodes of Permian–Triassic boundary (PTB) extinction. Marine environmental deterioration was greater during the 2nd PTB extinction episode.