Diesel Jumps 17%, Outpacing Crude Oil After Weekend Conflict
The price of key petroleum fuels soared on Monday as markets opened after the Iran conflict escalated over the weekend, with the jump in diesel futures prices outpacing the surge in crude prices as supply from the Middle East is in disarray. Gasoil, or diesel, faces the most acute risk to near-term fuel supply, according to estimates by Kpler. As a result of disrupted shipments out of the Middle East due to the de facto closure of the Strait of Hormuz, fuel prices soared by double digits early on Monday. Gasoil (diesel)…