Why Global Refinery Outages Squeezed Diesel Hardest

Global refinery outages squeezed diesel hardest because the regions hit worst, Russia and the Gulf, mainly export middle distillates. Bruno Santos, StoneX Brazil Market Intelligence Analyst, explains how roughly 14% of global refining capacity went offline, about double the seasonal norm, and why diesel felt it most. Ukrainian attacks took more than half of Russia's processing capacity offline, triggering a Russia diesel export ban, while a China fuel export suspension tightened supply further. U.S. refiners chased a record heating oil crack spread, but heavy exports drained U.S. diesel inventories and sparked debate over a U.S. diesel export ban. 0:00 Global Refinery Outages Double 0:38 Russia Bans Its Diesel Exports 1:08 Gulf and China Pull Supply Too 1:37 Why Middle Distillates Bled 2:07 U.S. Refineries Run Flat Out 2:39 Diesel Stocks Spark Ban Talk Discover Actionable Energy Insights with StoneX Market Intelligence: https://shop.stonex.com/collections/energy?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_bruno_santos&utm_content=share Like and subscribe for more financial market insights. #Diesel #StoneX #BrunoSantos #Refining --------- Like this video? Subscribe and turn on notifications so you don't miss any videos from StoneX: https://www.youtube.com/@stonex_official Visit https://www.stonex.com/en/insights/thought-leadership/?utm_source=youtube&utm_medium=social for insights, perspectives and thought leadership from StoneX's global network of experts. Visit our website: https://www.stonex.com?utm_source=youtube&utm_medium=social