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U.S. on-highway diesel rose 4 cents to an average of $3.584 per gallon on October 7 while gasoline fell, according to EIA data. Hurricanes, Middle East tensions and East Coast port strikes were cited as sources of disruption.
Rising diesel costs add to trucking and transport expenses for feed deliveries, and port strikes could delay exports and imports of feed ingredients. The price impact is moderate, with diesel prices still far below last year's levels.
fleetowner.comAlex KeenanOct 8, 2024After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% 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.
