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US Gulf Coast refined product prices jumped to multi-month highs on August 27 as Hurricane Ida approached the region. ULSD reached a near four-month high and jet fuel rose to its highest since late April.
Phillips 66 was shutting its Alliance refinery ahead of the storm.
Buyers rushing to secure barrels ahead of refinery shutdowns push cash diesel prices up, raising trucking and farm-fuel costs. The price spike reflects storm-driven supply risk rather than a lasting demand change.
spglobal.comJanet McGurty, Binish Azhar, Evan HowellMargaret RogersAug 27, 2021After 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.
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.
