European low sulfur gasoil hits record high Europe begins drawing more diesel from US Latin American diesel tenders dry up Global diesel prices are soaring on concerns that Russian supplies of diesel and feedstocks will dry up due to sanctions, exacerbating an already tight market. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now NYMEX front-month ULSD settled March 8 at $4.4373/gal, up 51.58 cents on the day and up $1.54 since Feb. 24, when the Russian invasion of Ukraine began. “Russia supplies over 60% of Europe’s imports of diesel (accounting for 14% of Europe’s demand), so a potential disruption to trade would significantly tighten the market and further strengthen prices,” according to S&P Global Commodities Insights. The UK said March 8 it will “phase out” its imports of Russian crude oil and oil products by the end of 2022 in response to […]