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The EIA benchmark diesel price fell 8 cents to $5.233 per gallon, while CME ULSD futures settled at their lowest level since Oct. 3.
The futures price has dropped in 11 of the last 12 trading days. The East Coast supply squeeze also appeared to be easing.
Falling futures and a broken price trend point to further retail diesel declines, which lowers trucking costs for feed. The implication is bearish for diesel.
freightwaves.comJohn KingstonNov 21, 2022Not enough comparable past events yet for a historical read.
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.
