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US Diesel Surges Past USD6 on Mideast War Oil Spike
(MENAFN) Diesel prices in the United States broke through $6 per gallon for the first time on record Friday, as surging crude costs tied to escalating conflict in the Middle East ripple through fuel markets.
Data from the American Automobile Association put the national average diesel price at $6.05 as of Friday.
The jump comes as crude oil prices surged roughly 10% for the week, driven by the ongoing US-Iran war and mounting regional tensions. Brent crude futures stood at $106 per barrel as of 0800 GMT, while West Texas Intermediate traded at $101.
President Donald Trump said Wednesday that the elevated energy prices stem from US efforts to stop Iran from acquiring a nuclear weapon.
Diplomatic efforts to ease the pressure are set to continue Monday, when Iran and Gulf states are expected to gather in Oman to hash out a temporary framework for managing shipping traffic through the Strait of Hormuz.
Further south, the security picture is shifting fast along Yemen's western coastline. Media reports point to Houthi forces advancing on multiple fronts near Mocha and the Bab al-Mandeb Strait, a chokepoint critical to global shipping.
Data from the American Automobile Association put the national average diesel price at $6.05 as of Friday.
The jump comes as crude oil prices surged roughly 10% for the week, driven by the ongoing US-Iran war and mounting regional tensions. Brent crude futures stood at $106 per barrel as of 0800 GMT, while West Texas Intermediate traded at $101.
President Donald Trump said Wednesday that the elevated energy prices stem from US efforts to stop Iran from acquiring a nuclear weapon.
Diplomatic efforts to ease the pressure are set to continue Monday, when Iran and Gulf states are expected to gather in Oman to hash out a temporary framework for managing shipping traffic through the Strait of Hormuz.
Further south, the security picture is shifting fast along Yemen's western coastline. Media reports point to Houthi forces advancing on multiple fronts near Mocha and the Bab al-Mandeb Strait, a chokepoint critical to global shipping.
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