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Consumption of diesel and other distillate fuels has fallen since Q2 2022 as manufacturing and freight activity slow. Domestic distillate supplied was down 4.4% in the three months from November to January versus a year earlier.
Sustained distillate demand destruction points to a weaker industrial economy, pressuring fuel prices and reducing freight demand relevant to feed logistics.
reuters.comJohn KempApr 4, 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.
