Two Fuels That Power the Global Economy Flash Red in Europe

(Bloomberg) — If the oil market offers clues about the state of the economy, it’s through the prism of two petroleum products: diesel and naphtha. And in Europe, the news is bleak.

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The former powers trucks, trains, ships and industries including farming and construction. The latter is used by the petrochemical sector to make everything from medical equipment to chewing gum. OECD Europe’s annual consumption of both is set to plunge this year, with naphtha hitting…