US Diesel Hits Record $5.98 as Iran War Drives up Costs From Milk to Lumber
U.S. diesel reached a record $5.98 a gallon as supply fears and shipping attacks kept crude above $100, analysts said.
5 Articles
5 Articles
‘We worry now’: Oil tops $100, diesel hits record highs amid Iran war escalation
Oil surged above $100 and diesel reached record levels after an escalation tied to Iran raised supply worries. The spike has immediate implications for Gulf economies, transport costs and inflation in the UAE and wider region.
Oil prices fell in global trading on Friday, but still posted a dramatic weekly gain of more than 8 percent, while U.S. gasoline prices hit an all-time high on concerns about prolonged supply disruptions.
Oil prices declined when Friday transactions were settled, with markets assessing the geopolitical outlook in the Middle East, but black gold recorded weekly gains against the backdrop of the recent military escalation between the United States and Iran. Raw price ($/bill) of change ($) ratio per week of change (November delivery) 104.61 (3.02) (2.81%) + 8.65% Nimex (October delivery) 100.05 (2.43) (2.37%) [...] the oil article is declining but …
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