# Diesel Sees Rare Summertime Rally Amid Heat Waves, Supply Crunch - Bloomberg

> European and US diesel futures traded at their highest levels since January, with Asian prices also rising. Diesel strength outpaced the recovery in crude prices during an unusual summer rally. The article links the rise to supply tightness and heat waves, adding to inflation pressure as central banks weigh rate decisions.

- Date: 2023-08-01 · published 2023-08-01T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/34773-diesel-sees-rare-summertime-rally-amid-heat-waves-supply-crunch-bloomberg
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Diesel strength raises the cost of hauling feed ingredients and grain, which can widen basis and delivered costs for livestock producers. Persistent energy inflation also affects the rate and currency backdrop for commodities.

## Read by commodity

- WTI: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2026-08-26 | [US Diesel Supplies Hit Record Low as Demand Season Looms - Bloomberg](https://feedsoft.ai/events/18069-us-diesel-supplies-hit-record-low-as-demand-season-looms-bloomberg.md) | +11.5% | +15.5% |
| DIESEL | 2017-09-27 | [Surging Diesel Demand Is Underpinning Crude Oil’s Bull Market - Bloomberg](https://feedsoft.ai/events/69113-surging-diesel-demand-is-underpinning-crude-oil-s-bull-market-bloomberg.md) | -5.1% | -1.3% |
| DIESEL | 2022-10-14 | [NY Diesel Is So Scarce Traders Are Turning to Unusual Source - Bloomberg](https://feedsoft.ai/events/39316-ny-diesel-is-so-scarce-traders-are-turning-to-unusual-source-bloomberg.md) | -7.6% | -4.9% |
| DIESEL | 2023-08-29 | [America Runs on Oil – But Can U.S. Diesel Stockpiles Keep Up? - Supply Chain Technology News](https://feedsoft.ai/events/34777-america-runs-on-oil-but-can-u-s-diesel-stockpiles-keep-up-supply-chain.md) | +1.4% | +1.2% |
| DIESEL | 2026-08-19 | [U.S. Refiners Capitalize as Buyers Vie for Shrinking Diesel Supply - WSJ](https://feedsoft.ai/events/18075-u-s-refiners-capitalize-as-buyers-vie-for-shrinking-diesel-supply-wsj.md) | -6.3% | +17.9% |
| WTI | 2017-09-27 | [Surging Diesel Demand Is Underpinning Crude Oil’s Bull Market - Bloomberg](https://feedsoft.ai/events/69113-surging-diesel-demand-is-underpinning-crude-oil-s-bull-market-bloomberg.md) | -2.4% | +1.3% |
| WTI | 2020-11-23 | [Oil Hits March High With Transition Stoking Rally Across Markets - Bloomberg](https://feedsoft.ai/events/50314-oil-hits-march-high-with-transition-stoking-rally-across-markets-bloomberg.md) | +7.6% | +13.6% |
| WTI | 2023-08-29 | [America Runs on Oil – But Can U.S. Diesel Stockpiles Keep Up? - Supply Chain Technology News](https://feedsoft.ai/events/34777-america-runs-on-oil-but-can-u-s-diesel-stockpiles-keep-up-supply-chain.md) | +7.8% | +13.2% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2023-08-01/the-fuel-that-powers-the-world-is-having-an-unusual-summer-surge

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.