Diesel prices have surged to unprecedented levels due to a global refining capacity shortage caused by refinery closures and geopolitical conflicts. This development highlights a tightening of oil supply that may influence the broader energy market. Prediction markets estimate only a 0.5% probability of crude oil reaching a new all-time high by September 30, compared to 12.5% by December 31. OPEC and the International Energy Agency are closely monitoring these developments.
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