Oil rises past $100, diesel at record as Iran war disrupts supply
Crude oil crossed $100 a barrel and diesel reached a record price as the conflict involving Iran escalated. Both sources report that diesel is now at its highest recorded price in the U.S., with oil flows through the Strait of Hormuz slowing sharply. Fuel inventories are near critical lows worldwide, with potential shortages expected to worsen. Rising energy prices are increasing inflationary pressure globally.
- Oil flows through Hormuz have slowed sharply
- Global fuel inventories at critical lows, analysts say
- Diesel reaches highest recorded price in U.S.
- Fuel shortages expected to worsen in Europe and Asia
- Inflationary pressures rising globally due to energy costs
Sources covering this
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