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Weak U.S. Diesel Demand Intensifies Recession Fears ...Middle East
Diesel demand in the United States has been falling in recent months, also reflected in declining wholesale and retail diesel prices, pointing to a slowdown in industrial and freight activities and intensifying fears of a recession in the world’s largest economy. Major U.S. transportation and logistics companies missed Wall Street forecasts in their Q1 earnings and flagged a “freight recession” last week. “To start, we're in a challenging freight environment where there is deflationary price pressure for an industry…
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