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NYH ULSD and RBOB barge prices reached multiyear highs after Iranian strikes on the UAE pushed Nymex benchmarks sharply higher. The front-month April ULSD contract climbed back above $4/USG, and April RBOB hit its strongest level in more than three and a half years.
Attacks on Gulf energy infrastructure and risk to Strait of Hormuz flows threaten crude and distillate supply, lifting fuel costs for farm and feed logistics. The escalation supports higher energy prices across the board.
argusmedia.comCraig RossMar 25, 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 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.
