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The DOE/EIA benchmark diesel price rose 6.5 cents to $4.061 a gallon, its largest weekly gain since February. Brent settled at $90.38 as Middle East supply tensions lifted oil markets.
Higher diesel and crude costs raise fuel surcharges and transport costs for feed ingredients, and signal firmer energy costs across the feed chain.
freightwaves.comJohn KingstonApr 8, 2024After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.
After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
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.
