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The DOE/EIA benchmark diesel price fell for a seventh consecutive week to $4.185 a gallon as futures followed a faster decline in crude on banking-sector uncertainty. The ULSD-Brent spread widened to about 93 cents a gallon from roughly 72 cents on March 9.
Financial stress pulling crude lower reduces energy input costs and freight surcharges, though diesel's relative strength suggests the price slide may slow.
freightwaves.comJohn KingstonMar 20, 2023After 79 past bearish macro events, DIESEL moved a median -1.0% over 5 sessions (39% higher; middle half -5.7% to +1.7%), and -1.5% over 20.
After 565 past bearish macro events, WTI moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
After 312 past bearish macro events, BRENT moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% 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.
