US Diesel Crack Spread Hits Historic $102.20 as Hormuz Crisis Bites
📉 DIESEL — Record crack spread means the real economy just entered the war. 📌 LOOK CLOSER: The diesel crack spread measures refinery profit — when it hits $102, it means diesel is catastrophically scarce relative to crude. Every truck, tractor, and cargo ship runs on it. With Hormuz at 12% of pre-war traffic, distillate supply chains are snapping. This lands directly on food prices, freight costs, and CPI — the political variable Trump can least afford before midterms.
