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Latin American diesel prices eased from record highs as buyers sourced cargoes from Europe and Asia rather than only the US Gulf Coast. Colombia had cancelled tenders when ULSD import parity hit a record $186.12/b on May 4.
Easing Latin American diesel premiums reduce import costs and logistics pressure in regional feed and livestock supply chains. The shift in sourcing suggests softening premiums for US Gulf Coast exports.
daily.energybulletin.orgTom WhippleMay 14, 2022After 28 past bearish trade events, ULSD / Diesel moved a median -0.1% over 5 sessions (50% higher; middle half -5.0% to +1.7%), 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.
