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The EIA reported that the US national average diesel price fell for a sixth straight week, down 2.1 cents to $3.261 per gallon. Prices have dropped about 13 cents over five weeks, and WTI was trading near $51.51 per barrel.
Lower diesel costs reduce freight and processing expenses for feed producers. Continued weakness in crude and diesel points to softer energy input costs.
stage.logisticsmgmt.comLM StaffNov 27, 2018After 86 past bearish report events, ULSD / Diesel moved a median -0.9% over 5 sessions (37% higher; middle half -4.3% to +0.9%), and +0.4% over 20.
After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
