Jolyon@jolyon

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Trump midterms economic warning

Washington is bracing for worsening economic fallout from the Iran war just as US midterms arrive within weeks, with no visible end to the conflict in sight. Goldman Sachs forecasts diesel prices will stay unusually high until 2027 because global refining capacity is constrained by approximately 2 million barrels per day of offline Middle Eastern capacity, Russian refinery disruptions, and shrinking output elsewhere. The firm projects diesel and jet-fuel refining margins in 2027 to exceed normal levels by more than double. Even the G7's release of a 100-million-barrel reserve may provide only temporary relief to the market. This analysis was reported by CNBC with Mhedi writing the article.

2h

Jolyon@jolyon

Follow

Trump midterms economic warning

Washington is bracing for worsening economic fallout from the Iran war just as US midterms arrive within weeks, with no visible end to the conflict in sight. Goldman Sachs forecasts diesel prices will stay unusually high until 2027 because global refining capacity is constrained by approximately 2 million barrels per day of offline Middle Eastern capacity, Russian refinery disruptions, and shrinking output elsewhere. The firm projects diesel and jet-fuel refining margins in 2027 to exceed normal levels by more than double. Even the G7's release of a 100-million-barrel reserve may provide only temporary relief to the market. This analysis was reported by CNBC with Mhedi writing the article.

2h