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Oil Tops $91, US Diesel Crack Near $100 As US-Iran Strikes Resume, Tehran Claims Supertanker Mined In Hormuz
Oil Tops $91, US Diesel Crack Near $100 As US-Iran Strikes Resume, Tehran Claims Supertanker Mined In Hormuz
Brent crude futures climbed back above $90 a barrel, while West Texas Intermediate topped $86 after the US and Iran exchanged strikes for the first time in about a month. Tehran also claimed that an unidentified supertanker was struck by naval mines in the Strait of Hormuz.
Meanwhile, diesel crack spreads are approaching $100 a barrel again, suggesting an increasingly severe shortage across refined-product markets as the summer draws to a close.
US Central...
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