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ULSD futures have diverged sharply from their usual April to June seasonal rise this year. EIA data show ULSD demand on a 4-week rolling average fell to 11.6% below 2023 levels by late March, after running 2.2% ahead in the week ended March 22.
Weaker diesel demand relative to last year suggests limited support for diesel prices and freight costs. A demand recovery would be needed to reverse the seasonal weakness.
fuelsmarketnews.comKeith ReidJun 20, 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.
