Diesel Crunch Takes Center Stage as Oil Markets Tighten, Goldman Says
Goldman Sachs says diesel is at the epicenter of a widening global fuel crunch driven by war-related refinery outages in the Middle East and Russia. July refining throughput has fallen as much as 6.5 million barrels per day vs. a year ago, with diesel exports down about 2.6 million bpd (roughly 35%), leaving middle-distillate inventories below seasonal norms and pushing refining margins to record highs as gasoline, diesel, and jet fuel supplies tighten.