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Red Sea disruptions have pushed up tanker freight rates, with rates to hire large tankers from the Middle East to northwest Europe reaching $117,000 a day. Diesel margins in northwest Europe rose to their highest since early December, and the east-west diesel spread widened.
Europe's structural diesel shortfall and higher freight costs keep European diesel prices elevated, supporting fuel and logistics costs. Higher diesel prices also increase costs for feed producers.
ttnews.comJack WittelsJan 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.
