Global Oil, Diesel Prices Under Pressure as Winter Demand Looms

Global oil and diesel prices are under pressure due to regional tensions, the Russia-Ukraine war, and disruptions to transport and supply routes. Economic expert Munir Diyeh attributes these price pressures to damage to refineries and production lines, as well as difficulties transporting energy to global markets.

The approaching winter is expected to increase demand for energy, particularly diesel, which has seen a rise in prices due to reduced refining capacity at several refineries.

Diyeh notes that continued disruptions to refineries and supply lines will remain key factors affecting the global diesel market. Disruptions to strategic reserves in major industrialized countries have also contributed to tighter global energy supplies and higher prices.