Bahrain: Oil prices fell on Friday, yet US diesel prices hit an all-time high amid growing fears of prolonged supply disruptions. Brent crude futures dropped $3.02, or 2.81%, to settle at $104.61 per barrel, while US West Texas Intermediate (WTI) crude fell $2.43, or 2.37%, to $100.05 per barrel. Earlier in the session, both benchmarks had reached their highest levels since mid-May.
According to Emirates News Agency, the average US diesel price surpassed six dollars per gallon for the first time ever, as reported by the fuel-tracking service GasBuddy. This increase in diesel prices is attributed to tightening supplies, causing concern among consumers and businesses that rely heavily on diesel fuel.