Why Are Global Diesel Prices So High? Exhibit A: Ukraine Drone Hits Novoshakhtinsk Refinery

A Ukrainian drone strike on Friday forced Russia’s Novoshakhtinsk refinery in the Rostov region offline, according to regional governor Yury Slyusar. The plant, which processes about 110,000 barrels per day (roughly 5–5.6 million tons per year), is not one of Russia’s giants. It is, however, a clean illustration of why diesel—the workhorse fuel for trucking, […]

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Refineries Under Fire: How Policy, Geopolitics, and Climate Ideology Created a Global Energy Crisis

Special Guest Richard Norris Pandreco on the Energy Realities Podcast with Dr. Tammy Nemeth, David Blackmon and Stu Turley   In this episode of the Energy Realities podcast, hosts David Blackmon, Stu Turley, and Dr. Tammy Nemeth sit down with Dr. Richard Norris, managing director at Pandrako Advisors and author of the Energy IQ Substack, […]

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Middle East Escalation Meets China’s Return: Dual Chokepoints, Record Tanker Rates, and an Upward Spiral in Crude and Products

The Middle East energy map tightened sharply over the past week even as China resumed heavier crude buying. Houthi forces seized key Red Sea positions including Mocha and Perim Island, tightening control over the Bab el-Mandeb Strait and targeting Saudi-linked vessels. Drones originating from Iraq struck Saudi Arabia’s East-West pipeline, prompting a precautionary shutdown of […]

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Russia Hits Odesa Again as Black Sea Shipping Disrupted

Russian forces launched another large missile-and-drone barrage on Ukraine’s Odesa region overnight September 11–12, 2026, hitting residential buildings, energy infrastructure, and the port complex that once moved the bulk of Ukraine’s grain and oilseed exports. Ukrainian officials reported at least 11 people killed and 96 injured nationwide, including a five-month-old infant in Odesa. Air defenses […]

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U.S. fuel prices have climbed to their highest levels since the Iran war began in late February, with diesel setting fresh all-time records and wholesale costs now exceeding the peaks seen before the first ceasefires.

How high they go from here, and how long they stay elevated, depends less on crude alone than on a global refining system that is already running near its limits. Energy analyst John Kemp noted Wednesday that the combined cost of U.S. crude and refining margins is now higher than in early April. So far […]

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