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US West Coast distillate prices jumped to multimonth highs on February 7 after unplanned flaring at the region's largest refinery and strong export demand into Latin America. Los Angeles jet fuel rose to a two-month high premium, and Los Angeles ULSD reached its highest level since late November.
Platts estimated nearly a fifth of West Coast refining capacity could be disrupted.
A disruption to nearly a fifth of West Coast refining capacity tightens regional diesel supply and lifts fuel costs for western freight. Strong export pull into Latin America adds further upward pressure.
spglobal.comFeb 7, 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.
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.
