{
  "id": 5594255,
  "title": "Record Diesel Prices Push Brent Toward $95",
  "url": "https://urgent.news/2026/09/04/record-diesel-prices-push-brent-toward-95",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-04T16:27:00.000Z",
  "source": {
    "name": "OilPrice",
    "slug": "oilprice",
    "url": "https://oilprice.com/Energy/Crude-Oil/Record-Diesel-Prices-Push-Brent-Toward-95.html"
  },
  "original_language": "en",
  "account": "Record diesel prices are driving Brent crude oil toward $95 per barrel. Middle distillate supply shortages are pushing refined products to the forefront of increasing oil prices. US diesel prices have reached an all-time high, with middle distillate refining cracks now exceeding crude prices. ICE Brent is expected to end the week with a 6% weekly gain, at around $95 per barrel. OPEC plans to maintain its October 2026 quotas at 31.01 million barrels per day, as the US-Iran war continues to limit Middle Eastern supply growth. Saudi Aramco has kept its October selling price to Asia at a $2 per barrel discount to Oman/Dubai, the lowest since June 2020. Trump has blocked China from receiving revenues from Venezuelan oil production as Chevron expands there. US natural gas hit an eight-week high of $2.96 per MMBtu, as Tropical Storm Edouard had little impact on demand. Taiwan allocated $13.3 billion for energy subsidies, while the US plans to drill in Utah's oil-rich Uinta basin. Europe's gas price has hit a three-year high of 72 per MWh, or $25 per MMBtu. Bangladesh paid nearly $100 million for one LNG cargo to combat nationwide blackouts. Indonesia has offered its upstream sector to Russian firms, targeting 1 million b/d of oil and 12 BCf/d of gas by 2030. Argentina plans sanctions against Israeli-listed Navitas, UK-based Rockhopper Exploration and suppliers of the Sea Lion field offshore the Falkland Islands. Indonesia's nickel processing hub may cut output by 30-40% due to an El Nino-driven drought, potentially tightening global supplies. US job data knocked gold prices below $4,400 per ounce, with a 60% probability of a September Fed rate hike.",
  "summary": "Diesel prices and refining cracks surge as tightening middle distillate supplies push Brent toward $95. Friday, September 04, 2026 Refined products have been the main driver of rising oil prices, particularly diesel as the outlook for global middle distillate supply continues to deteriorate into late 2026. With US diesel prices soaring to an all-time high, middle distillate cracks alone are now…",
  "key_points": [
    "Record diesel prices push Brent crude oil toward $95 per barrel.",
    "US diesel prices reach all-time high, middle distillate refining cracks exceed crude prices.",
    "OPEC maintains October 2026 quotas at 31.01 million barrels per day."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}