Jack Wittels

1 week ago | bloomberg.com | Jack Wittels

A person refuels with diesel at a gas station. (Bloomberg) -- Diesel prices kept rising on Tuesday as concerns about Middle Eastern supplies — a consequence of the Israel-Iran conflict — piled pressure on an already tight market. The premium of benchmark futures to crude in Europe breached $20 a barrel, the third straight day of sharp gains, while a similar measure in Asia closed at the highest level in almost a year, fair value data compiled by Bloomberg show.

1 week ago | bloomberg.com | Yongchang Chin |Nicholas Lua |Jack Wittels

(Bloomberg) -- The cost of hauling refined oil out of the Middle East surged on Tuesday as shippers reacted to the conflict between Israel and Iran. Rates for shipping large cargoes of fuel from the Persian Gulf to Japan almost doubled to more than $55,000 a day, data from the Baltic Exchange show. The cost of moving product to East Africa and northwest Europe from the Middle East also soared.

1 week ago | news.bloomberglaw.com | Jack Wittels |Prejula Prem

Diesel outpaced oil price gains, highlighting traders’ concerns that the conflict between Israel and Iran could disrupt fuel flows to the tight European market. The premium between benchmark diesel futures in Europe and crude — known as the crack — widened to its highest since February on Monday, fair value data compiled by Bloomberg News show. Diesel markets in Asia and the US also showed signs of strength.

2 weeks ago | perfil.com | Jack Wittels

El petróleo subió hasta un 13% después de que Israel lanzara ataques aéreos contra Irán, lo que aumenta los temores de una guerra más amplia en una región que representa un tercio de la producción mundial de crudo. Los futuros del crudo Brent treparon por encima de los US$78 por barril en un momento dado, el mayor aumento intradía desde marzo de 2022, durante la invasión de Ucrania por parte de Rusia, antes de recortar las alzas y situarse en US$74,95 por barril.

2 weeks ago | rigzone.com | Jack Wittels |Mia Gindis |Catherine Cartier

Oil surged the most in more than three years after Israel carried out airstrikes against Iran, raising fears of a wider war in a region that accounts for a third of global crude production. West Texas Intermediate crude futures advanced more than 7% to settle near $73 a barrel, the biggest one-day jump since March 2022. The price of European natural gas — also a major Middle Eastern export — rallied, and haven demand pushed gold closer to a record.