Loading…
US diesel exports to Europe fell by almost half in February to 6.65 million barrels from 11.44 million in January, according to Kpler. The decline reflects a slump in US refining activity and longer Red Sea routings around the Cape of Good Hope.
US diesel cracks briefly reached a four-month high above $48 a barrel.
Tighter diesel supply and higher shipping costs support diesel and freight prices that feed buyers pay. Europe's reliance on imported diesel adds upward pressure on global distillate markets.
reuters.comShariq KhanFeb 26, 2024After 113 past bullish logistics events, ULSD / Diesel moved a median +0.6% over 5 sessions (54% higher; middle half -2.8% to +4.2%), and +0.2% over 20.
Not 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.
