Diesel prices rose to a four-month high on September 1, driven by renewed attacks on refineries due to conflicts in the Middle East and Ukraine. ICE diesel futures surged 4.2% to the highest since April 9. The crack spread between diesel and Brent crude remains elevated, previously hitting a record last month. European diesel prices have widened their gap with Asian counterparts. Since a low on June 18, diesel prices have climbed over 50%, outpacing crude oil's gains, stoking inflation concerns and pressuring commodity prices.
According to BlockBeats, diesel prices kept tightening and hit a four-month high on September 1, as fresh attacks on refineries tied to the wars in the Middle East and Ukraine sharpened supply fears. ICE diesel futures climbed 4.2% to their highest level since April 9, stoking inflation worries and putting wider pressure on commodity prices.
The crack spread between diesel and Brent crude is still running hot after reaching a record high last month. And European diesel prices have kept moving up, stretching the gap with Asian diesel prices. Since the June 18 low, diesel prices have jumped more than 50%, beating the gains posted by crude oil over the same period. (Source: Jinshi)
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