International Energy Agency: Diesel Markets in Europe and Other Regions Extremely Tight

(1) Fatih Birol, Executive Director of the International Energy Agency, stated at a conference that diesel market supply in Europe and other regions is "extremely tight." (2) "I am very concerned about diesel prices," as diesel prices in Europe and the United States have reached historic highs. (3) Rising oil prices will drive up agricultural product inflation in the coming months. (4) Liquefied petroleum gas prices are also causing problems in regions such as Africa and India. (5) When asked whether there would be a new round of strategic reserve releases, Birol said he would provide further comment later on Thursday.