For the first time ever, 10-year bond yields track diesel prices more closely than crude, and Trump’s fuel deal with Putin may be too little too late

Diesel prices have come off their all-time highs in recent weeks, but the key industrial fuel has already moved the needle across the economy and financial markets, making affordability a more potent issue in the midterm elections. The national average for diesel is about $6.277 per gallon, according to AAA , down from its $6.528 high but still 71% above year-ago levels. By contrast, U.S. crude oil is up 56% from a year earlier as damage to refining capacity in the Middle East and Russia has produced a sharper crunch in fuel markets.

Source: Fortune Crypto