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I agree, the market needs to start looking at the price of the stuff we use, distillates (gasoline/diesel), and not the raw material to make it (crude oil). Diesel prices are soaring, especially in Europe. Consider that Russia/Ukraine might matter more for energy markets. -- Gasoil continues to soar in Europe, as the chart below shows. Gasoil is now well above May’s peak (when crude prices were over $140 per barrel). Europe gets its diesel from Russia, and Ukraine keeps blowing up their refineries. Russian refinery output is down by more than half, and they’re no longer exporting diesel, and there’s a real shortage in Europe right now. -- Gasoil is the raw middle distillate that comes straight out of the refinery, and it serves as the foundation for a whole family of fuels — including road diesel (45% of all gasoil), jet fuel/kerosene (18%), industrial & agricultural off-road diesel (17%), heating oil (12%), and marine (bunker) fuel (8%) — each of which is further processed and refined to meet the specific standards of its end use. The national average price for U.S. diesel is approaching its all-time high again. https://t.co/LR8Ov0doUd