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Mandatory climate disclosures are now on the horizon in the U.S. after the Securities and Exchange Commission unveiled a long-anticipated climate disclosure rulemaking proposal. The U.S. joins a growing number of countries requiring companies to report their climate-related risk.
Sanctions and boycotts on Russian oil over its war in Ukraine are heaping more pressure on global diesel markets which were already running low on stocks as demand rebounds from the COVID-19 pandemic. As traders scramble to source alternative supplies, diesel cracks have soared to record highs, far outpacing price rises for gasoline and other fuels. Europe is by far the biggest casualty of lower Russian diesel exports, which account for about half the region's total diesel imports or some 700,000 b/d.
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