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Diesel prices reach four-month high
Global diesel prices have risen to their highest levels in over four months due to increasing attacks on refining facilities and worsening supply shortages. The disruptions in the Strait of Hormuz, damage to Gulf Arab refineries, and strikes at factories have restricted shipments from regions that produce about one-third of the world's supply. As a result, diesel futures on the Intercontinental Exchange increased by 4.2%, surpassing a 50% gain since their June lows. This has led to expectations of doubled profits in diesel production, while rising costs have raised concerns about increased inflationary pressures on the global economy.
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