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Home›Commodities›Energy›Oil extends gains for fourth straight day as diesel ne…

Oil extends gains for fourth straight day as diesel nears record

Diesel is approaching a record high as renewed U.S. and Iran strikes strain energy flows and cloud expectations for a quick disruption end.

Reported · Written up by our desk · Energy

The latest round of renewed strikes involving the United States and Iran is putting strain on energy supplies and extending upward pressure on fuel prices, according to a report by The New York Times Business.

The outlet said oil rose for a fourth straight day, while diesel moved toward record levels, reflecting concerns that the disruptions may last longer than markets had hoped.

The report linked the price strength to reduced expectations that the disruption will end soon, as the strikes continue to affect the flow of energy.

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Sources

NYT BusinessOil Jumps for Fourth Straight Day and Diesel Nears Record High

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