> Diesel futures prices hit new record highs

U.S. diesel futures surged by another 5% on Tuesday, as Houthi strikes continued on Saudi infrastructure and Hormuz oil flows fell sharply.

“Record diesel prices are already having broad economic consequences by raising the cost of goods and impacting real incomes, economic activity, and inflation," the IEA warned in its latest Oil Market Report, adding that market tightness is set to extend into 2027. "Falling inventories, soaring cracks, and steepening levels of backwardation have signaled the need for additional supplies."


I blame autopen Biden!
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