Diesel's Sudden Surge: The Unintended Consequences of Middle Eastern Maelstrom The recent spike in diesel prices to a record $6 a gallon has left industry insiders with mixed reactions, but it is essential to examine the context behind this economic shock.
Tensions between Iran backed Houthis and Saudi Arabia in Yemen have escalated, leading to the Houthi capture of Mokha, a key Red Sea port city.
The capture of Mokha, situated just 50 miles from the Bab el Mandeb Strait, has significant implications for international trade.