Record Diesel Prices Drive Brent Crude Toward $95 per Barrel
Source Summary
Diesel prices have reached all-time highs as global middle distillate supplies tighten, pushing ICE Brent crude toward $95 per barrel with a 6% weekly gain. Refined products, particularly diesel, are driving the rise in oil prices, with middle distillate cracks now exceeding outright crude prices. The outlook for global middle distillate supply continues to deteriorate into late 2026, with analysts seeing no significant short-term downside for prices.
Why it matters
Record diesel prices and tightening middle distillate supplies are pushing crude oil toward $95 per barrel, directly affecting global energy costs and transportation fuel expenses.
