Diesel Shortage Puts Squeeze on Crude Oil Prices
The global diesel market is facing significant strain due to declining exports from the Middle East and Russia. China's increased demand for crude oil to boost diesel production may drive up prices, further tightening the market.
European diesel imports have dropped significantly, with prices hovering just below recent peaks. U.S. distillate inventories are at their lowest levels in three decades, adding to the pressure on the market.
The odds of crude oil reaching a new all-time high by September 30 remain relatively stable at 3% YES, but the December 31 market shows a slightly higher probability at 11.5% YES.
Key energy figures such as Mohammad Sanusi Barkindo and Fatih Birol are being closely watched for indicators that could influence these markets.