Global Diesel Crunch Worsens Ahead of Peak Winter Demand

AI Summary

Global diesel shortages are intensifying ahead of increased winter demand, driven by geopolitical tensions in the Persian Gulf and conflicts affecting Russian refineries. Diesel supply deficits and rising prices are reported in Southeast Asia and the US concurrently with record-high US diesel exports.

As peace in the Persian Gulf remains elusive and Ukrainian drones keep raining on Russian refineries, a global fuel crisis is looming larger by the day as demand is set to increase in the coming months, especially for diesel. Shortages are already reality in some parts of the world. In Southeast Asia, Reuters reported last week, palm oil farmers are seeing diesel supply shortages and spiking prices. In the United States, diesel fuel exports hit an all-time high in the first week of August, running at an average daily rate of 1.9 million barrels.…