finance
Diesel in New York Harbor Reaches $140 per Barrel
@MarioNawfal reported that diesel prices in New York Harbor climbed to $140 per barrel from $85 before the war. Jeffrey Currie, director of Abaxx Commodity Exchange, linked the rise to depleted storage and halted shipments through the strait.
Jul 13, 5:37 PM·1m read1 source
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Diesel prices in New York Harbor reached $140 per barrel, up from $85 per barrel before the war, @MarioNawfal reported. Jeffrey Currie, director of Abaxx Commodity Exchange, said virtually no ships are returning through the strait to export additional crude. He added that both sides emptied storage tanks while access remained open, releasing oil that cannot be replenished.
Currie described the resulting low prices as a one-time occurrence. Once current reserves are exhausted, he stated, no further supply will be available to offset the shortfall.
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