Europe’s benchmark diesel contract has climbed above $200 a barrel for the first time since Russia’s invasion of Ukraine, as the Iran conflict shows little sign of easing.
Prices have more than doubled since the outbreak of fighting in the Middle East, jumping as much as 9.7% on Thursday after Donald Trump’s latest address offered no clear timeline for an end to hostilities.
Diesel futures rose to $1,498 per tonne—equivalent to over $200 a barrel—signalling further pressure on fuel costs for consumers.
The move comes alongside a broader rally in energy markets. Brent crude, the international benchmark, gained 7% to trade above $108 a barrel, while US West Texas Intermediate surged 11.3% to exceed $111.
