Diesel Prices Outpace Crude Oil, Alarming Markets
May 16, 2022
In the last 2 months, diesel prices have decoupled from the price of West Texas Intermediate crude. Low global distillate inventories, low refinery capacity, high utilization, and the invasion of Ukraine have driven abnormal crack spreads on end-products. Diesel is the lifeblood of the transportation economy, and sustained higher prices may present a major challenge globally.
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Horizon Kinetics LLC
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