Source: Bloomberg
“Diesel rose to the highest in more than four months after fresh attacks on refineries further tightened a market already dealing with a drop in supply due to wars in the Middle East and Ukraine.
The increase in the cost of the workhorse fuel of the global economy adds to inflationary concerns amid broader pressure on the price of basic goods. ICE gasoil futures, the global diesel benchmark, climbed as much as 4.2% to their highest level since April 9. The fuel’s premium to Brent crude, known as the crack spread, remains elevated, having risen to the highest on record last month. It is also trading at an increasing premium to supplies in Asia.” (09/01/26)