Diesel Prices Set to Spike This Year: Kemp ...Middle East

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Diesel Prices Set to Spike This Year: Kemp
source : OILPRICE ( Middle East ) () 18
Diesel prices are below normal—and they could rise this year as North American and Western European economies come out of a teetering recession this year and business activity perks up. Diesel, heating oil, and gas oil inventories have been hovering below the ten-year seasonal average across North America, Europe, and Singapore in January, which has been placing upward pressure on fuel prices. According to Reuters, investors have already acquired a position of 56 million barrels in the two major futures and options contracts for middle distillates,…

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