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The DOE/EIA benchmark diesel price rose 2 cents to $3.914 a gallon, ending an eight-week decline. Brent settled at $81.07 after rising 10.7% from its December 12 low, led by crude rather than products.
Higher crude and diesel benchmarks raise fuel surcharges and transport costs for feed mills and haulers, adding upward pressure on delivered feed costs.
freightwaves.comJohn KingstonDec 26, 2023After 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% 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.
After 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.
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.
