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Futures for September 2023 delivery diesel have risen more than $16 a barrel from their late-April low. The diesel crack spread widened by $10 a barrel over the same period, as diesel prices outpaced crude.
Hedge funds and other investors have begun to take interest in the tight diesel supply.
Investor interest and a widening crack spread signal that diesel is tightening faster than crude, which keeps transport and fuel costs elevated for feed buyers. Fund inflows can amplify near-term price moves.
reuters.comJohn KempJul 20, 2023Not 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.
