Latin America most exposed to any US ban on diesel exports, Goldman Sachs says
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Diesel prices have risen more than 90% in Europe and more than 80% in the US and Asia since the start of the Iran war. The threat of a US ban on diesel exports further adds to the upside risks to prices and increases the risk of shortages in the most exposed economies, Goldman warns. Diesel prices outside the US will rise by about 2% for each week the export ban is in place, with the effects taking place after about a month. The bank calculates …
Imports from the United States account for more than 50% of diesel consumption in Ecuador, Chile, Mexico and Peru, according to Goldman Sachs in a note.
Latin America could be one of the regions most affected by these restrictions, given that Ecuador, Chile, Mexico and Peru cover more than 50% of their diesel consumption with imports from the US, Goldman Sachs analysts for Western media said.
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