The Globe and Mail reports in its Friday edition that the International Energy Agency will release over 20 million barrels of diesel to address global shortages and rising prices that are fuelling inflation. The Globe's Emma Graney writes the Middle East war and Ukraine's attacks on Russian refineries are affecting Canadian oil producers and prices. Prolonged supply disruptions have greatly affected global diesel supplies, leading to Canadian prices soaring to a record high of $2.67 (Canadian) per litre this week. Skyrocketing diesel prices have already had broad global economic consequences, from higher costs for goods to effects on incomes and inflation. While diesel prices have eased from the all-time highs of more than $200 (U.S.) a barrel reached in September, global benchmarks remain nearly double the price of crude oil and their pre-crisis levels. The price of global oil benchmark Brent crude was at $105.81 (U.S.) on Thursday. With geopolitical pressures showing no signs of letting up, diesel prices are unlikely to dip any time soon, analysts say. Supplies will remain tight even with the IEA's strategic diesel release, said Rystad Energy's Susan Bell, and high prices will be required "to keep demand in check."