Oil moving from Strait of Hormuz ‘extremely important to produce diesel’ amid market uncertainty

Macquarie University Senior Finance Lecturer Lurion De Mello details the importance of diesel amid the US-Iran crisis and the wider market ramifications of this uncertainty.

“The Strait is only 30km wide … this oil is extremely important to produce diesel, and diesel is an industrial fuel, and that’s why the tension is so much at the moment,” Mr De Mello told Sky News Business Editor Ross Greenwood.

“Diesel is not just something you put in your car.”