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Diesel, heating oil and gas oil inventories in January were below the prior ten-year seasonal average across North America, Europe and Singapore. That shortfall has begun to exert upward pressure on fuel prices.
The article projects a sharp rise in diesel prices during 2024.
Low distillate stocks across major regions raise the likelihood of higher diesel costs for farm freight and feed delivery. Global tightness could persist through the spring season.
reuters.comJohn KempFeb 6, 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.
