Diesel hits four-month high as refinery attacks squeeze supply

BlockBeats reported on September 1 that diesel markets tightened further, pushing prices to their highest level in more than four months as renewed attacks on refineries linked to conflicts in the Middle East and Ukraine constrained supply. The move has amplified inflation concerns and added pressure across commodity markets. ICE diesel futures climbed as much as 4.2% to the strongest level since April 9. The crack spread—the premium of diesel over Brent crude—stayed elevated after hitting a record high last month. European diesel prices continued to rise, widening the gap versus Asia. Since the June 18 low, diesel prices have surged more than 50%, outpacing crude oil gains over the same period. (Jin10)