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Global Refining Crunch Drives Diesel Prices to Record Highs

Diesel prices hit record highs in the US and Europe due to global refining capacity shortages, exacerbated by Russia's extended diesel export ban and Ukrainian drone attacks on refineries. The situation is worsening despite US calls for Ukraine to halt strikes, indicating a prolonged supply squeeze with no immediate relief.

OilPrice.comabout 4 hours agoUS, RU, UA, DE, FR, GBengCredibility 52%View source

Score Breakdown

Mosaic Score9.4

Confidence0.7

Significance0.8

Source credibility0.5

Intelligence Tags

#diesel #refining #energy-prices #russia #ukraine #supply-shortage

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Source

Part of 2 situations

developingEnergyGeopolitics23m ago

Global Diesel Shortage Worsens Amid Refining Crunch, Conflicts, and Export Ban Calls

The global diesel shortage is worsening, driven by record-high prices in the US and Europe due to a global refining capacity crunch, exacerbated by Russia's extended export ban and Ukrainian drone attacks on refineries. Conflicts in Iran and Ukraine are confirmed to be reducing exports from major producers, while US political pressure for a domestic diesel export ban is increasing, though the policy outcome remains uncertain.

↑ escalating·4 signals·US, IR, RU +6Score 6.6

activeGeopoliticsPolitics2m ago