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The US average retail diesel price fell 1.5 cents to $3.136 per gallon, according to the Department of Energy. Crude oil fell to about $53 a barrel and reached bear market territory as trade tensions mounted.
Lower diesel prices reduce freight and farm fuel costs for feed supply chains. Crude's decline signals weaker energy demand expectations.
ttnews.comJun 3, 2019After 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.
