Europe's Diesel Shock Is Moving Into Borrowing Costs, Permutable Analysis Finds

(MENAFN- ValueWalk) European gasoil is up 98% since the Middle East conflict began, compared with 36% for Brent. Of the 99-basis-point rise in US 10-year yields through 21 September, 90 basis points came from real yields.

LONDON, 24 September 2026 – Easing crude prices risk obscuring where the energy shock is still intensifying. New analysis from Permutable shows European diesel prices have nearly doubled since the conflict began on 28 February, while the rise in US long-term borrowing costs has come overwhelmingly through real yields.

ICE gasoil rose from $753 to $1,490 a tonne between the last close before the conflict and 23 September. Over the same period, Brent rose 36%. The European distillate refining margin widened from $28 to $101 a barrel....

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