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US Gulf Coast ULSD hit record highs in September, reaching $5.18 per gallon on Sept. 15 after rising more than 77% since the US-Iran conflict began.
Russia extended its diesel export restrictions through October, and US ULSD inventories stand well below the five-year average.
Tight global diesel supply raises energy and freight costs for feed producers and hauliers. Higher diesel also shifts biofuel economics, affecting soybean oil and corn-based ethanol margins.
spglobal.comAna Hernandez, Carlos CastilloSep 21, 2026After 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.
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.
