Diesel Crack Spreads Hit Records as Middle East Tensions and Russia Export Ban Deepen Global Fuel Squeeze
Diesel crack spreads have surged to record highs as Russia’s diesel export ban and Middle East re-escalation simultaneously constrain global refined fuel supply.
Key points
- Diesel crack spreads hit records as Russia export ban and Middle East tensions deepen global fuel squeeze
- Record refinery margins benefit independent refiners while logistics companies face rising costs
- Winter heating season demand could amplify supply pressure if inventories do not rebuild
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