U.S. diesel topped a record $6.50/gal as global refining capacity struggles to replace lost Middle Eastern and Russian supply. With U.S. refiners already running hard, the fuel crisis has no quick supply-side fix. #Diesel# #Oil# #Refining# #Energy#

The Czech Republic will cap gasoline and diesel prices from Oct. 1 as Europe's fuel crisis deepens. Refiners also face a proposed 50% tax on margin increases over 2025 levels after margins surged to $50-$55 a barrel. #Diesel# #Europe# #Oil#

The power race is increasingly about speed, not just cost. Utility-scale solar can be built in roughly 15 months versus about 2 years for gas and 7 years for nuclear, giving renewables an edge as electricity demand surges. #Energy# #Solar# #Power# #DataCenters#

A missed opportunity to increase output at a time it's most needed. The delayed cokers at Tula and Salina Cruz are supposed to upgrade low-value fuel oil into lighter products, including diesel. Completion has now slipped to 2027, reportedly because funding ran short.

Prague is moving to shield consumers from Europe’s fuel shock, capping gasoline and diesel prices and cutting diesel excise tax to the EU minimum. The one-month tax reduction is expected to cost about $52M. #Diesel# #Gasoline# #Czechia# #Europe#

War is becoming a core risk for data center operators. Howden says data center space near active conflict zones in 2025 equaled about 60% of the previous five years combined, as AI infrastructure expands globally. #AI# #DataCenters# #Geopolitics#

Iranian forces struck another pair of tankers in the Strait of Hormuz - UKMTO An oil tanker was hit in the inbound US-protected lane, while an LPG tanker was hit on its outbound transit.

As physical crude prices spiked, liquidity began to dry up in the European market, with some sellers choosing to sit on barrels rather than put a price on them amid the extreme volatility. The scale of the squeeze was evident in Norwegian crude, which was reportedly commanding premiums of more than $30 per barrel last week. (thanks for the datapoints @AdiSurreyEnergy) That scramble began to unwind once Saudi Arabia indicated that the East-West pipeline was being repaired and, crucially, that exports could be redirected through its eastern terminals. With the immediate supply panic fading (at market open today), barrels that were withheld at the height of the rally are now coming back onto the market, forcing sellers to cut their offers progressively to find buyers. But oil is not out of the woods yet. Another strike by IRGC-linked militias or the Houthis on a critical part of Saudi Arabia’s oil infrastructure could quickly send prices back toward $110 per barrel.

Bitcoin surged above $85,000 for the first time since January as risk appetite returned across markets. Ether approached $2,750, while renewed ETF inflows and easing oil prices added momentum to crypto's rebound. #Bitcoin# #Crypto# #Markets# #Ethereum#

Zelensky "has to do one thing. He has to stop knocking out diesel fuel in Russia," Trump told reporters while in Ireland over a week ago. "There are plenty of other targets. Don’t hit diesel fuel, because that’s hurting, that’s hurting the world." At least eggs are 25% cheaper than they were last year.

The U.S. fuel crisis may be shifting from a price problem to a supply problem. Some stations are reporting diesel shortages as inventories tighten, while California diesel averages $8.42/gal versus $5.98 in Texas. #Diesel# #Oil# #Energy#

Hungary is asking Washington for tariff relief while it reduces reliance on Russian energy. A new U.S. law allows tariffs of up to 100% on major buyers of Russian oil and gas that make new purchases. #Hungary# #Russia# #Oil# #Sanctions#

Europe's gas shock could reach consumers faster than in 2022. The ECB says wholesale gas moves now feed into retail prices within 1-3 months across more than half the Eurozone, increasing near-term inflation pressure. #NaturalGas# #Europe# #Inflation# #ECB#

Middle East energy risks are shifting toward Bab el-Mandeb as Houthi forces expand control near the key Red Sea chokepoint. Shipping through the strait is already sharply reduced, adding another threat to oil and fuel flows. #Oil# #RedSea# #EnergySecurity#

Kazakhstan plans to sharply increase Russian gas imports, targeting about 11 bcm this year as domestic demand rises. But new U.S. sanctions could complicate the strategy and raise the cost of relying on Gazprom. #Kazakhstan# #Russia# #NaturalGas#