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Inflation-adjusted New York Harbor ULSD spot prices averaged $107 per barrel in April 2024, down from $136 in September 2023. The diesel crack spread narrowed to $22 per barrel from $46 a year earlier as renewable fuels displaced diesel consumption.
Growing renewable fuel supply is cutting into diesel demand and narrowing refining margins, a structural bearish factor for diesel and a sign of weaker energy-cost pressure on feed logistics.
reuters.comJohn KempMay 10, 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.
