Why Global Diesel Prices Are Soaring: War, Hurricanes & Drone Attacks

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Global diesel prices have surged to unprecedented levels, with wholesale prices hitting $180 per barrel and potential for even higher prices due to Gulf hurricanes. Drone attacks on oil infrastructure are tightening supply, while US diesel exports and fuel surcharges are also increasing costs.

Diesel prices are hitting “insane” levels at $180/barrel wholesale, and a Gulf hurricane could mean “apocalyptic numbers” past $200, warns Gulf Oil’s Tom Kloza. He breaks down the unprecedented impact of drone attacks on global oil infrastructure, further tightening the refined products market. Plus, how US diesel exports are soaring and fuel surcharges are leaving […] The post Why Global Diesel Prices Are Soaring: War, Hurricanes & Drone Attacks appeared first on FreightWaves.