Diesel prices have never been higher. U.S. President Donald Trump contends that’s not because of the war he started nearly seven months ago.
“The World’s Diesel price rise is mostly caused by the Russia/Ukraine War, not Iran,” Trump said in a social media post this week. He’s since reiterated the assertion.
But according to estimates compiled by Bloomberg and double-checked with diesel traders, the Iran war has removed more diesel supply from the market than the Russia-Ukraine conflict.
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