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Analysts warned that a busy Atlantic hurricane season and tight fuel supplies could further strain U.S. refiners, who already have the lowest oil-processing capacity in eight years. Any refinery outages would likely push up gasoline and diesel prices.
Reduced US refining capacity tightens diesel and gasoline supply, supporting product prices and raising costs for feed transport and farm fuel buyers.
reuters.comLaura Sanicola, Erwin SebaJun 30, 2022After 39 past bullish weather events, ULSD / Diesel moved a median +2.4% over 5 sessions (59% higher; middle half -4.5% to +6.1%), and +8.9% over 20.
After 13 past neutral weather events, Crude Oil (WTI) moved a median +2.3% over 5 sessions (62% higher; middle half -0.9% to +4.7%), and +6.1% 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.
