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Commodities

Diesel Tightness Keeps Premium Alive Amid Crude Supply Recovery

Guavy AI Editorial Team
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Oil
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Crude oil futures prices remain relatively stable despite a supply recovery, with November WTI crude oil trading at $89.93 as of 23:50 GMT on Wednesday.

The diesel premium persists, driven by tightness in the market and strong demand for the fuel, especially given the high cost of shipping.

According to data, distillate stocks fell 2.3 million barrels to 105.2 million, with gasoline down 1.7 million barrels to 204.4 million.

The White House is urging the European Union to consider drawing emergency diesel inventories and weighing broader red-dyed diesel sales as an alternative to a diesel export ban.

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