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Goldman Sachs expects refined fuel margins to stay two to three times higher than 2013-2019 averages through 2026, with diesel margins $19-26 a barrel above pre-war forecasts. Global refined product exports fell 4 million bpd year-on-year.
Persistently elevated diesel margins sustain higher freight and processing energy costs, a cost-side pressure on feed production.
reuters.comJun 2, 2026After 105 past bullish macro events, ULSD / Diesel moved a median -0.4% over 5 sessions (45% higher; middle half -3.4% to +1.8%), and +1.2% 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.
