Refiners Are Raking It In Amid Surge In Diesel Margins ...Middle East

Diesel prices have been supercharged this summer, but as Bloomberg's Jack Wittels warns, the moves seem out of kilter with the relatively mundane fundamental drivers, creating the risk of a correction. Then again, it could just be a repeat of last year when diesel prices went suborbital due to lack of refining capacity, and led to a cash bonanza for refiners. Benchmark diesel futures in northwest Europe are currently worth about $35 more than ICE Brent, more than double the seasonal norm. This price difference -- known as the diesel…

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