Diesel prices and refining cracks are experiencing a surge due to tightening supplies of middle distillates, a trend that is influencing Brent crude oil prices, OilPrice.com reported. The publication noted that refined products, particularly diesel, have been the primary factor behind the increase in oil prices.
The outlook for global middle distillate supply is reportedly deteriorating as late 2026 approaches. This situation has led to US diesel prices reaching an all-time high, according to the source material.
OilPrice.com indicated that middle distillate cracks alone have now surpassed the outright prices of crude oil. This development highlights the significant premium being placed on refined products.
ICE Brent crude was poised to conclude the week with a 6% gain, trading around $95 per barrel. The publication suggested that there was no immediate short-term downside anticipated for Brent crude prices.
