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Diesel Margins Top $100 a Barrel to Reach Record High as Supply Crunch Grows
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US diesel refining margins exceeded $100 a barrel for the first time, reaching record levels as a global shortage of fuel-making capacity continues to worsen fuel prices. The measure, known as the diesel crack spread, tracks the margin refiners can earn by converting crude oil into diesel. The diesel crack spread hovered near $100 a barrel on Tuesday, slightly below a record high above $102 a barrel. It settled in triple digits for the first time on Monday. The surge reflects tightening global diesel supply conditions and has contributed to higher fuel prices.