U.S.-Iran Tensions Push Oil Prices Higher as Diesel Margins Hit Records

Source Summary

Escalating U.S.-Iran tensions have driven crude oil prices higher as Iran declared it would adopt a "fully offensive" strategy in the conflict. Brent crude traded at $91.33 per barrel and West Texas Intermediate at $85.08 per barrel. The U.S. diesel crack spread topped $100 per barrel for the first time in history.