Oil Hits 4-Day Rally as Diesel Nears Record High

U.S. and Iranian strikes this week have tightened global energy supplies, pushing oil prices up for a fourth straight session. Diesel, a key fuel for trucks and heating, is now close to an all-time record. The renewed military actions have disrupted the flow of crude and other fuels, and they have also crushed hopes that the disruption would ease quickly. Traders now expect the supply squeeze to last longer than earlier forecasts. As a result, oil prices have climbed steadily since the strikes began. Diesel costs are especially sensitive to refinery output and shipping routes, both of which face new risks. Analysts say the market is reacting not just to lost barrels today, but to the growing chance of further escalation. For now, no immediate end to the strikes is in sight, keeping upward pressure on prices. For consumers, the rally means higher costs at the pump and for goods that rely on diesel-powered transport.