Show notes
Everyone believes the energy shock is about oil. It isn’t. The most important price in energy today isn’t really the price of crude. It is the difference between crude oil and the fuel made from it—a number known as the crack spread.
And for diesel, that spread has absolutely exploded to record highs. Now what?
CHAPTERS:
0:00: It's Not Oil, It's Diesel
1:45: Crude vs Diesel and the Refinery Bottleneck
5:27: The Crack Spread Explained
7:13: Falling Fuel Demand
10:38: The Weakening Labor Market
13:31: Why Refiners Can't Just Make More
15:45: Retailers Are Cutting Prices
17:48: Peak Season, Record-Low Diesel Supply
19:13: Demand Destruction, Not Inflation
Eurodollar University's Money & Macro Analysis
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Eurodollar University Live 2
October 9-12, West Palm Beach, Florida
40 seats exist. Application only.
https://eurodollar-university.com/edu-conference-2026
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https://www.youtube.com/watch?v=mbyK0zBmUdk
https://www.facebook.com/FreightWaves/videos/fuel-surcharges-hit-post-war-high/995362180202422/
https://www.facebook.com/yahoofinance/videos/us-diesel-is-at-its-highest-price-since-peaking-in-april-during-the-initial-phas/1983606939022118/
https://www.youtube.com/watch?v=KV9WNbDYvas
https://www.youtube.com/watch?app=desktop&v=l62qGJkGRgg
https://www.youtube.com/watch?v=gSOyHFh0JeQ
https://www.facebook.com/KIII3News/videos/one-of-the-first-new-us-refineries-in-decades-set-to-break-ground-in-san-patrici/28365786599721611/
https://www.facebook.com/FreightWaves/videos/us-diesel-exports-smash-records-economic-impact/2210266723100605/
https://www.wsj.com/business/energy-oil/trump-wants-big-oil-to-build-more-refineries-thats-a-tough-sell-54666292
https://www.bloomberg.com/news/articles/2026-07-19/us-oil-refiners-are-running-so-hard-they-are-risking-breakdowns
https://www.facebook.com/cnbc/videos/america-is-building-its-first-new-oil-refinery-in-nearly-50-years/1771239487664827/
https://www.spglobal.com/energy/en/news-research/latest-news/refined-products/090126-us-gulf-coast-diesel-prices-hit-all-time-high-amid-global-supply-disruptions
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
I’ll also be active on Bravais Social - a new AI-centered social network designed for professionals and knowledge workers. The platform aims to bring together a wider range of tools and functionalities tailored specifically for professional interaction, research, and knowledge exchange in one place.
You can find me here: https://bravais.social/profile/edu
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