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Diesel prices hit 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. Disruptions in navigation through the Strait of Hormuz and damage to Gulf Arab refineries have reduced shipments from regions that produce a third of the world's supply. As a result, diesel futures have surged by 4.2%, with gains exceeding 50% compared to June levels. Economists fear that rising fuel costs may intensify inflationary pressures on the global economy.
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