Global wholesale diesel prices hit ~$180/barrel, could exceed $200 with Gulf hurricane, warns Gulf Oil's Tom Kloza, citing drone attacks on Russian, Saudi, and Libyan refineries.
Wholesale diesel prices have climbed to approximately $180 a barrel on world markets, with Gulf Oil Chief Energy Advisor Tom Kloza warning they could push above $200 a barrel if a tropical storm threatens Gulf Coast refining infrastructure. Kloza highlighted drone strikes on refining infrastructure as a rapidly expanding and largely overlooked threat, noting that attacks within a single week knocked out refining capacity in Russia, Saudi Arabia, and Libya. Global refining capacity is already short by an estimated 7 to 9 million barrels a day, a gap worsened by record U.S. distillate exports, which reached nearly 2 million barrels last week.
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