business ⛽ Diesel price shock is the real energy issue
Energy expert Jeff Currie claims that the focus on Brent crude oil prices is missing the major market problem. He stated that European diesel was trading around $170 per barrel, significantly higher than Brent's $90.94 at the time of the interview. This disconnect arose partly because of 100 to 120 million barrels trapped in the Strait of Hormuz following supply surges. Currie argues that past government strategies to create an 'illusion of abundance' are insufficient for this massive disruption. The crude-product price gap is expected to correct as refiners aim for high margins.