Why Russian Diesel Can't Fix Oil While Hormuz Stays Shut

Oil prices remain elevated because Russia's new diesel supply is small against global demand while the Strait of Hormuz stays disrupted. Fiona Cincotta, StoneX Senior Market Analyst, breaks down the Russian diesel deal and the Middle East risks weighing on fuel supply. Russia's diesel shipments of more than 300,000 metric tons compare with global consumption of around 29 million barrels a day, and the Russia-Ukraine energy ceasefire is still unconfirmed. Iran's rejection of U.S. proposals to reopen the Strait of Hormuz and Houthi attacks on Saudi Arabia keep refined products tight, while 60% of U.S. Gulf Coast production was reportedly taken offline ahead of the hurricane. Discover Actionable Insights with the latest Market Outlook Reports: https://intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_fiona_cincotta&utm_content=share 00:00 - Russian Diesel Heads to U.S. 01:00 - Russia Ukraine Truce Unproven 01:51 - Iran Rejects Hormuz Reopening 02:16 - Saudi Arabia Under Houthi Fire 03:11 - Gulf Coast Hurricane Fallout 04:12 - Oil Tests Its Channel Floor Like and subscribe for more financial market insights. #CrudeOil #StoneX #FionaCincotta #Diesel --------- 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