Geopolitical tensions eased somewhat as US President Donald Trump stepped back from his ambitions to take over Greenland and launch military strikes against Iran. But diesel and jet fuel prices are still pumped: Underlying global benchmark ICE low sulfur gasoil futures have jumped from a seven-month low to a near seven-week high in the last two weeks. The front-month contract closed above $91 per barrel Jan. 21 before retreating to settle around $89.50/bbl the next day — still up over 10% from a seven-month low of $80.13/bbl on Jan. 7 amid daily price swings of up to $3/bbl.
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