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Global diesel prices are falling as economic slowdown intensifies. The US ULSD spread over Brent narrowed to $205 per tonne on April 4, down from $261 at the start of 2023 and a peak of $316 in October 2022.
A narrowing diesel crack signals weaker distillate demand from slowing economies, which lowers transport and processing costs but points to softer industrial activity.
reuters.comJohn KempApr 6, 2023After 79 past bearish macro events, ULSD / Diesel moved a median -1.0% over 5 sessions (39% higher; middle half -5.7% to +1.7%), and -1.5% 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.
