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US diesel prices fell as Europe's ban on Russian product imports began, with US distillate stocks rebuilt during a period of lower demand. Lower prices are easing inflation worries that had weighed on investors.
Lower diesel costs reduce feed-transport and farm operating expenses, a modest bearish signal for diesel-linked logistics costs; the Russian import ban adds some upward pressure on global diesel trade flows.
reuters.comLaura SanicolaFeb 10, 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.
