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Business
Diesel prices rise as Strait of Hormuz blockade and Russian export halt disrupt supply
Herz — Business Desk · · 30s summary · 1 min read
The essentials
Diesel prices continue to rise as two disruptions affect the global market. The blockade of the Strait of Hormuz is hampering diesel trade, while Russia suspended all diesel deliveries abroad in early July. According to Le Monde, the continuing increase reflects pressures linked to both the conflict in the Middle East and the war in Ukraine.
- Diesel prices continue to rise.
- The Strait of Hormuz blockade is disrupting the global diesel market.
- Russia suspended all foreign diesel deliveries in early July.
What we know
Diesel prices continue to rise under pressure from the conflict in the Middle East and the war in Ukraine, Le Monde reports.
The blockade of the Strait of Hormuz is disrupting the global diesel market.
A second disruption is affecting supply: Russia suspended all diesel deliveries abroad in early July.
Two factors are weighing on the market
The global diesel market is simultaneously facing the effects of the Strait of Hormuz blockade and the halt to Russian exports.
Together, these disruptions are contributing to the continuing rise in diesel prices.
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