# The Market Is Paying $105 a Barrel to Turn Crude Into Diesel. Valero's 6x P/E Is Still a Bet.

> Front-month Brent settled at $95.84 a barrel on November 13, down 18.5% over two weeks. Ukraine struck a ninth Russian refinery since early November, and the diesel crack spread widened to roughly $105 a barrel from about $37 in January and February.

- Date: 2026-11-14 · published 2026-11-15T12:12:02.581Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/101130-the-market-is-paying-105-a-barrel-to-turn-crude-into-diesel-valero-s-6x-p-e-is
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

A wide diesel crack reflects tight distillate supply, with global stocks about 13% below five-year averages, which keeps diesel costs high for trucking and farm operations even as crude falls.

## Read by commodity

- BRENT: bearish ▼
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2019-12-11 | [Reaction in the diesel market to IMO 2020 is still to come: Platts - FreightWaves](https://feedsoft.ai/events/55751-reaction-in-the-diesel-market-to-imo-2020-is-still-to-come-platts-freightwaves.md) | +3.5% | -0.9% |
| DIESEL | 2017-09-27 | [Surging Diesel Demand Is Underpinning Crude Oil’s Bull Market - Bloomberg](https://feedsoft.ai/events/69113-surging-diesel-demand-is-underpinning-crude-oil-s-bull-market-bloomberg.md) | -5.1% | -1.3% |
| DIESEL | 2021-06-16 | [Tight diesel market dominates the spotlight \| Saxo](https://feedsoft.ai/events/46788-tight-diesel-market-dominates-the-spotlight-saxo.md) | +1.8% | +1.2% |
| DIESEL | 2026-05-22 | [Brent’s $100 Forecast May Understate the Risk of a Tighter Oil Market \| Investing.com AU](https://feedsoft.ai/events/19433-brent-s-100-forecast-may-understate-the-risk-of-a-tighter-oil-market-investing.md) | -9.5% | -20.7% |
| DIESEL | 2022-09-14 | [ANALYSIS: US gasoline stocks at 10-mth low, diesel and crude build](https://feedsoft.ai/events/39569-analysis-us-gasoline-stocks-at-10-mth-low-diesel-and-crude-build.md) | -5.5% | +15.1% |
| BRENT | 2020-02-24 | [Oil slides into bear market territory, posting worst day in more than a month](https://feedsoft.ai/events/7115-oil-slides-into-bear-market-territory-posting-worst-day-in-more-than-a-month.md) | -13.0% | -55.2% |
| BRENT | 2020-03-29 | [Oil Crashes to 18-Year Low With Broken Market Drowning in Crude - Bloomberg](https://feedsoft.ai/events/5324-oil-crashes-to-18-year-low-with-broken-market-drowning-in-crude-bloomberg.md) | +21.9% | -26.3% |
| BRENT | 2020-03-27 | [Oil price crash: a glimpse into the future for global energy markets? Q&A with Pierre Noel](https://feedsoft.ai/events/7880-oil-price-crash-a-glimpse-into-the-future-for-global-energy-markets-q-and-a.md) | -1.2% | -25.9% |

## Sources

- ainvest.com: https://www.ainvest.com/news/market-paying-105-barrel-turn-crude-diesel-valero-6x-bet-2611/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.