Hormuz Tensions Drive European Diesel Prices Higher ...Middle East

European diesel prices rallied for a fifth straight session, driven by mounting anxiety that critical Middle East shipping lanes could be choked off. The conflict between Israel and Iran has raised alarm bells across the EU, which has become increasingly dependent on fuel shipments transiting the Strait of Hormuz since losing access to Russian supplies.  "Supply-security fears are driving the surge in European diesel prices," Eugene Lindell, head of refined products at energy consultancy FGE NexantECA, told Bloomberg. "Many importers are rushing…

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