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[BUSINESS] · United States, Iran, Russia, Ukraine · 100 sources

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Energy markets surge as US-Iran conflict drives diesel to record highs

Global energy markets are facing significant volatility due to renewed military conflict between the United States and Iran, alongside ongoing drone attacks by Ukraine on Russian energy infrastructure. These tensions have driven Brent crude prices toward $96 per barrel and WTI crude above $91 per barrel, with weekly gains for Brent reaching 7.6% and WTI approximately 10%.

In the United States, diesel prices have hit a historic record, averaging $5.85 per gallon, a nearly 60% increase from the previous year. Regional variations are stark, with California seeing prices as high as $7.70 per gallon. Analysts warn that rising diesel costs, which power essential sectors like freight, agriculture, and construction, will likely exacerbate inflation and increase consumer costs.

US Treasury Secretary Scott Bessent suggested that once the conflict with Iran concludes, an increased supply could cause oil prices to drop significantly, potentially reaching $40 or $50 per barrel. The energy crisis has also contributed to rising US 10-year Treasury yields, which reached their highest levels since 2023. Furthermore, shipping disruptions in the Strait of Hormuz have been noted, with vessel traffic falling significantly below recent averages.

Entities

AAA · American Automobile Association · Brent · Brent crude · Donald Trump · Iran · OPEC+ · Russia · Scott Bessent · Strait of Hormuz · Ukraine · United States

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Alcanza diesel máximo histórico [eldiariodechihuahua.mx]
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