As Diesel Crack Explodes Higher, DNB Warns Beijing Has "Little Reason" To Rescue The West

As Diesel Crack Explodes Higher, DNB Warns Beijing Has "Little Reason" To Rescue The West

As Diesel Crack Explodes Higher, DNB Warns Beijing Has "Little Reason" To Rescue The West Bloomberg's NYMEX one-month heating-oil/crude spread, tracked on the Terminal as the HOCL1 Index, breached $100 per barrel early Tuesday before surging to nearly $106 by late morning. The historic blowout is a major warning that refinery outages in Russia (read Goldman's latest diesel warning), restrictions on industrial fuel exports, and continued disruptions through the Strait of Horm...

By Tyler Durden