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US diesel futures are surging ahead of European benchmarks as a winter storm and continued frigid temperatures strain the fuel market. New York Harbor diesel's premium to European futures topped 40 cents a gallon on Monday, the highest in over three years.
The storm has affected some US refinery operations while icy temperatures lift heating oil demand.
Higher diesel costs raise hauling and freight expenses for feed mills and grain movements, and can feed into fuel surcharges. The cold-driven demand spike is likely to keep diesel firm while the storm lasts.
bloomberg.comJack WittelsJan 27, 2026After 39 past bullish weather events, ULSD / Diesel moved a median +2.4% over 5 sessions (59% higher; middle half -4.5% to +6.1%), and +8.9% 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.
