Global diesel prices have risen sharply, with refinery margins (crack spreads) widening to their highest levels this year due to geopolitical factors. The price surge is linked to recent EU sanctions on major Russian oil companies, which have tightened global diesel supply. The problem is compounded by a series of Ukrainian attacks on Russian refinery and petroleum export facilities, curbing product exports, and an ongoing outage at Kuwait’s Al Zour refinery, collectively contributing to sustained elevated prices worldwide.
