Diesel hits record high as Ukraine and Iran wars knock out refineries, fueling inflation worries
Published on: Friday 04 September 2026
Russia's diesel export ban affects about 800,000 bpd of supply while the disruptions in the Strait of Hormuz have disrupted about 1.2 million bpd, Lipow said. Iran's Houthi allies knocked out Saudi Arabia's Jizan refinery that produces about 200,000 bpd, he said.
RELATED NEWS
