# European diesel jumps over $100/mt amid Middle East tensions | S&P Global

> European gasoil futures rose above $900 per metric ton on March 2, up about 17% intraday from February 27, after US-Iran tensions escalated. Smoke was reported at Saudi Arabia's Ras Tanura refinery, and the EU and UK import about 20% of ULSD from the Persian Gulf.

- Date: 2026-03-02 · published 2026-03-02T12:00:00.000Z
- Category: geopolitics · region Europe · magnitude high
- Page: https://feedsoft.ai/events/5532-european-diesel-jumps-over-100-mt-amid-middle-east-tensions-s-and-p-global
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Loss of Gulf diesel and jet supply to Europe tightens global distillate balances, raising freight and input costs for feed buyers and supporting energy-linked oils.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2026-03-02 | 1 | +8.3% | 4.0 | European gasoil surged on March 2 on Gulf supply fears and Ras Tanura refinery smoke, a parallel signal of the same energy shock reinforcing crude. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2024-10-08 | [Fuel prices diverge: Diesel up, gasoline down, amid hurricanes and heightened Middle East tension \| FleetOwner](https://feedsoft.ai/events/11683-fuel-prices-diverge-diesel-up-gasoline-down-amid-hurricanes-and-heightened.md) | -3.3% | -3.9% |
| DIESEL | 2026-03-17 | [US average diesel prices cross $5 a gallon as Middle East War tests global economy \| Reuters](https://feedsoft.ai/events/20338-us-average-diesel-prices-cross-5-a-gallon-as-middle-east-war-tests-global.md) | +6.6% | -5.4% |
| DIESEL | 2025-01-11 | [US diesel prices jump to six-month highs amid NYMEX rally as Midwest differentials falter \| S&P Global](https://feedsoft.ai/events/10346-us-diesel-prices-jump-to-six-month-highs-amid-nymex-rally-as-midwest.md) | +4.9% | -0.9% |
| DIESEL | 2026-08-19 | [Diesel in California hits $7 as wars in Europe, Middle East strain supply](https://feedsoft.ai/events/18076-diesel-in-california-hits-7-as-wars-in-europe-middle-east-strain-supply.md) | -6.3% | +17.9% |
| DIESEL | 2026-07-30 | [Diesel Prices Climb Over Middle East Conflict and Refinery Attacks - WSJ](https://feedsoft.ai/events/18532-diesel-prices-climb-over-middle-east-conflict-and-refinery-attacks-wsj.md) | -13.4% | -3.5% |
| BRENT | 2024-09-30 | [Crude Rallies on Middle East Tensions](https://feedsoft.ai/events/28488-crude-rallies-on-middle-east-tensions.md) | +9.6% | +5.6% |
| BRENT | 2025-06-11 | [Oil prices jumps 4% to 2-month high as tensions rise in Middle East \| Reuters](https://feedsoft.ai/events/11156-oil-prices-jumps-4-to-2-month-high-as-tensions-rise-in-middle-east-reuters.md) | +14.7% | +5.4% |
| BRENT | 2026-08-29 | [China's Palm, Soybean, and Rapeseed Oil Futures Rise; Crude Up Over 2% on Middle East Tensions \| Gate News](https://feedsoft.ai/events/10975-china-s-palm-soybean-and-rapeseed-oil-futures-rise-crude-up-over-2-on-middle.md) | +9.9% | +21.6% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/refined-products/030226-european-diesel-jumps-over-100mt-amid-middle-east-tensions

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.