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US distillate consumption ended 2022 at its slowest pace in a decade, according to government data released on Tuesday. The decline was linked to weaker manufacturing and freight activity.
Softer US diesel demand points to a weaker freight economy, which tends to pressure diesel prices and reduces fuel-driven feed transport costs.
reuters.comJohn KempMar 1, 2023After 86 past bearish report events, ULSD / Diesel moved a median -0.9% over 5 sessions (37% higher; middle half -4.3% to +0.9%), and +0.4% 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.
