أسعار الديزل في كاليفورنيا تسجل مستوى قياسياً عند 8.14 دولارات للغالون مع تعرض إمدادات النفط العالمية لضربة أخرى

Quick Read

Saudi Arabia's East-West pipeline shutdown removed 4% of global supply, pushing Brent to $109/barrel and California diesel to a record $8.14/gallon.

With Hormuz closed since February and Houthi forces seizing Red Sea chokepoints, global oil supply has lost both major alternative shipping routes.

Diesel costs roll into groceries and freight within 6-10 weeks, and a national average above $6.50 could trigger trucking bankruptcies before winter.

Just released. Our analysts combed the entire stock market and named the ten best stocks to buy right now. The report is free. Enter your email and see if any of your stocks made the cut.

A gas station in California this weekend maxed out its pump display at $9.999 for diesel, unable to show what it actually needed to charge. That image, splashed across Bloomberg and Fortune over the past several days, is the concrete face of a supply shock that has been building since late winter and just took its worst turn yet. California's statewide average diesel price hit $8.14 a gallon, a record, while the national average diesel price crossed $6.20 a gallon, also a first. Trucks still have to move. Farmers still have to harvest. Every one of those miles now costs materially more than it did in July.

24/7 Wall St.

Why the Pipeline Shutdown Changes the Math

The reason prices jumped this week, rather than last, is Saudi Arabia. Riyadh shut its East-West pipeline over the weekend, the line that was supposed to be the workaround if the Strait of Hormuz stayed closed. Reuters put the outage at roughly 4% of global oil supply. Brent responded immediately, closing at $109.51 a barrel on September 9, up from $68.53 on July 2. West Texas Intermediate, the U.S. benchmark, sits at $103.50 a barrel, up 22.3% in a month.

Free Report, Just Released

The Top 10 Stocks To Buy Now

24/7 Wall St has helped investors make money for over two decades, and our top analysts just finished ranking the definitive Top 10 Stocks To Buy Now. Not the ten biggest companies. Not the ten everyone is arguing about. The ten best stocks to buy right now.

The report is free, and you can see why we think each stock is a top investment today.

Enter Your Email and See the Ten →

The Hormuz backdrop is the deeper problem. Nearly a fifth of global oil normally moves through that chokepoint, and it has been effectively shut since a late-February conflict. The Energy Information Administration's May outlook assumed Middle East producers had shut in 10.5 million barrels per day in April, with peak shut-ins near 10.8 million b/d in May. Traffic through Hormuz is still running below its 10-day average. The alternative route around the Arabian Peninsula got more dangerous after Houthi forces seized a key island in the Bab al-Mandeb strait, squeezing the Red Sea corridor too.