Trump Blames Russia for Diesel Fuel Shortage as Oil Prices Soar

Oil prices have surged to over $108 per barrel after renewed fighting in the Middle East disrupted global energy supplies. The global benchmark, Brent crude, is trading above $108 a barrel, while the US benchmark is around $103.

The latest jump follows attacks that forced Saudi Arabia to shut down its key east-west oil pipeline, an important alternative route for crude. Shipping through the Strait of Hormuz has already been severely disrupted, adding to pressure on global energy supplies.

Gas prices remain high, with diesel at a record $6.23 per gallon, according to AAA. President Donald Trump has downplayed the impact of Middle East tensions on global energy markets, instead blaming Russia and Ukraine for diesel fuel shortages.