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European diesel cargo prices were roughly flat on the week at about $1,007.50/mt CIF, after a late rally on reports China would not issue a third round of refinery export quotas. Russian export restrictions and a surprise drop in US distillate stocks also supported prices, while ARA stocks rose but remain 12% below the five-year average.
Chinese export limits and Russian supply constraints keep global diesel tight, supporting energy and freight costs for feed and grain shippers.
qcintel.comSep 29, 2023After 26 past bullish trade events, ULSD / Diesel moved a median -1.9% over 5 sessions (31% higher; middle half -5.6% to +1.6%), and -4.8% 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.
