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US diesel and other distillate prices have been falling faster than crude, narrowing the gross refinery margin. The Brent diesel crack averaged just $19 a barrel so far in June 2024, down from $46 in August 2023 and a record $63 in June 2022.
Weak diesel demand and narrowing refining margins point to softer diesel prices and lower fuel costs for US freight. Refiners may cut runs, which could ease pressure on crude demand.
reuters.comJohn KempJun 7, 2024Not 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.
