Loading…
Diesel futures in the US and Europe moved into contango as stocks rose and distillate demand weakened. The US shift was the first since June 2023 and in Europe the first since 2021.
Contango encourages storage over prompt delivery, signaling weak near-term diesel demand and bearish pressure on diesel and related energy costs.
reuters.comShariq KhanApr 30, 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.
