Shafaqna English- On Monday(10 Aug 2026), diesel prices in both the United States and Europe experienced a significant increase, following strikes on refinery facilities in Russia and Saudi Arabia that exacerbated existing supply disruptions. This price surge has sparked worry among agricultural producers who depend on diesel fuel for spring planting in the Northern Hemisphere and for the autumn harvest in the Southern Hemisphere.
The U.S. market for ultra-low sulfur diesel futures saw a 7.4% rally on Monday, settling at $4.19 per gallon—its largest advance since mid-July. Across the Atlantic, European diesel crack spreads, which reflect the profitability of converting crude oil into diesel, surged by nearly 10%, underscoring the tightening of refining margins in response to supply shocks.