Diesel Prices Are Breaking Records: 3 Refiners Turning The Crisis Into Record Profits

Crude oil is telling investors one story this week, while diesel is telling another. Brent crude currently sits around $91 a barrel, cushioned by governments releasing barrels from strategic reserves. Meanwhile, the U.S. diesel crack spread, the premium refiners earn turning crude into diesel, hit an all-time high of $102.20 a barrel on Monday. It’s a signal that the fuel powering trucks, tractors, trains, and cargo ships is in short supply even as crude looks relatively calm.

When the spread between raw material and finished product blows out this far, it usually means one thing: the refining system, not the oil field, is the bottleneck.

This post originally appeared at 24/7 Wall St.