BREAKING: ExxonMobil has fully shut down one of the largest diesel refineries in the Midwest, the 275,000 bpd Joliet plant, producing about 11 million gallons of gasoline and diesel a day, after a total power outage.
IIR Energy expected it back to normal production by the end of this week, yet it is still down, much longer than expected.
US diesel hit a new record of $6.45 a gallon today, up nearly 90% this year, with BP's Whiting refinery in Indiana also partially down as the US is now in peak diesel demand season.
Diesel has risen 45 cents in the seven days since it crossed $6, and at that pace it passes $7 before October, with harvest underway and winter ahead, Joliet down, Whiting partial, Russia's diesel exports halted, Saudi Aramco bidding for diesel in Europe, and the US considering a halt to exports too.