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IEA Warns of Looming Diesel Crisis

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Crude oil prices rose and diesel fell despite warnings from the International Energy Agency (IEA) about distillate fuel shortages this winter. The IEA shaved another 100,000 barrels per day from this year’s demand forecast in its September Monthly Oil Market report released Wednesday, but flagged an additional 700,000 b/d of product demand from fuel switching away from prohibitively expensive natural gas in the fourth quarter and first quarter of next year.

Topics:
Jet Fuel, Diesel/Gasoil, Crude Oil, Oil Spot Markets
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