Economic Uncertainty Could Spark A Drop In Diesel Consumption ...Middle East

OILPRICE - Economy
Economic Uncertainty Could Spark A Drop In Diesel Consumption
source : OILPRICE ( Middle East ) () 24
The oil price rally has really cooled down over the past three weeks, with oil prices declining to levels last seen prior to Russia's invasion of Ukraine. A massive increase in interest rates by the Fed, pandemic-related lockdowns in Shanghai, slowing U.S. oil demand growth, and a historic strategic petroleum reserve release have all contributed to the selloff. That said, whereas it's crude markets that have been hogging the limelight, the most dramatic action in global oil markets has been happening in a more hidden corner of the market: distillate…

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