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NYMEX gasoline and diesel forward prices fell over the week ending August 2, with the front-month gasoline contract dropping 12.53 cents (6.7%). WTI dipped below $54/bbl after the Fed's 25-basis-point rate cut and threatened new U.S. tariffs on Chinese goods, then recovered toward $56.
Inventory draws briefly supported prices midweek.
Lower crude and diesel forwards reduce input costs for feed transport and processing, but the sharp swings reflect demand worries that could weigh on energy-linked feed ingredient prices.
fuelsmarketnews.comDr. Nancy YamaguchiAug 2, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
