US diesel crack surpasses US$100 a barrel for the first time on supply disruptions

INTELLIGENCE SUMMARY

The US diesel crack, a key measure of refining profitability, hit an all-time high of US$102.20 a barrel on Monday as global supply disruptions from the wars in Iran and Ukraine run into peak agricultural consumption season. Measured as the premium ‌of US diesel futures over US West Texas Intermediate crude oil futures, the US diesel crack was trading at US$99.82 a barrel, up 2.4 per cent from Friday. The crack has hit new intraday record highs in five of the last six sessions, reflecting...