MNI Oil Weekly: Diesel Markets Remain Heated

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Executive Summary:

• Diesel Markets Remain Heated: A slew of factors keeps diesel markets heated against a backdrop of crude weakness heading into a northern hemisphere winter.
• Oil Markets: Brent crude is holding within the $63.8/bbl to $65.4/bbl range, weighing OPEC+ policy, elevated levels of oil at sea, Russia sanctions and China stockpiling. Oil product crack spreads have risen over the last week with strikes on Russian energy infrastructure and sanctions impacts adding to seasonal maintenance.
• Analyst Views: See oil market views and outlooks from key market names.