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The DOE/EIA retail diesel price fell 4.7 cents to $3.779 a gallon, the second straight weekly drop. WTI settled below $80 a barrel for the first time since June 14 on weak demand signals and Chinese growth concerns.
Falling crude and diesel futures reduce fuel and transport costs for feed mills and livestock operations. Weak oil markets also weigh on biofuel economics and on vegetable oil prices.
freightwaves.comJohn KingstonJul 22, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
