WTI Pops as Red Sea Shipping Echoes in Slumping European Diesel Supply

U.S. benchmark WTI oil prices gained over 2% on Monday amid the ongoing Red Sea shipping threat and European diesel demand before retracing some of those gains as Wall Street tried to digest inflation data.  Limited U.S. refinery output due to planned maintenance and overhauls also played a role in pushing crude prices higher on Monday.  Earlier on Monday, Reuters reported that U.S. diesel exports to Europe had slumped in February amid lower refinery output and tighter supplies in the U.S. Citing Kpler ship tracking data, Reuters…