Loading…
US petroleum inventories rose after a period of tightness, with ULSD stocks at about 30.6 days of supply and refinery utilisation at 95% of capacity. Crude stocks fell over the same period, and spot futures moved lower as July began.
Rebuilding product stocks eases the US distillate shortage and weighs on diesel and crude futures. Refinery operations near capacity leave limited room for further supply gains.
fuelsmarketnews.comKeith ReidJul 5, 2022After 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.
Rising US petroleum inventories and ULSD stocks at about 30.6 days of supply eased the tightness premium in diesel.
