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The IEA May Oil Market Report forecasts world oil demand growth slowing to 1.9 mb/d in the second quarter and expects Russian supply to fall about 710 kb/d in April. Global refinery margins have surged on depleted product inventories.
Tight product inventories and high refinery margins keep diesel and energy costs elevated, raising feed logistics and processing expenses.
iea.orgIEA - International Energy AgencyJun 1, 2022After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% over 20.
After 109 past bullish report events, ULSD / Diesel moved a median +0.2% over 5 sessions (51% higher; middle half -3.3% to +3.9%), and +0.3% 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.
