Renewed US-Iran fighting and uncertainty over shipping through the Strait of Hormuz are adding pressure to global energy markets.
Ukraine's attacks on Russian refineries are also contributing to tight diesel supplies, creating a distillates crisis heading into peak demand season.
The threat of mines continues to deter some traffic, while Bloomberg experts warn of a potential crisis.
Bloomberg News Oil Products Reporter Will Kubzansky and Middle East Correspondent Abeer Abu Omar will discuss the situation on Bloomberg This Weekend.
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