Global Diesel Crunch Worsens Ahead of Peak Winter DemandGlobal diesel supplies are tightening, with Russia banning exports, Middle Eastern refinery disruptions, and record U.S. exports draining inventories ahead of peak demand season. Europe is especially vulnerable, with refinery closures, depleted inventories, and reduced access to Russian-linked fuels pushing diesel prices up 40% since mid-June. In the United States, diesel fuel exports hit an all-time high in the first week of August, running at an average daily rate of 1.9 million barrels. Meanwhile, those record diesel exports are costing the United States. Unfortunately for large energy importers, relief in global diesel supply is also rather unlikely for the time being.