Diesel's Unwelcome Allure: When Profitability Trumps Availability The US diesel crack has surpassed $100 a barrel for the first time, marking a milestone in the increasingly precarious state of global energy markets.
This development is not merely a reflection of supply disruptions in Iran and Ukraine but also a symptom of a broader issue: the market's persistent favoritism towards profit over availability.
Global refinery throughput has dropped significantly – by around 5 million barrels per day from last year's levels – due to ongoing conflicts in key regions, including wars in the Middle East and Eastern Europe.