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The DOE/EIA weekly diesel price rose 1.5 cents to $3.339/gallon, the first rise in three weeks. Wholesale ULSD climbed after Hurricane Ida, and backwardation in the futures curve was flagged as a sign of tightening inventories.
A firmer diesel benchmark and steep backwardation point to rising near-term fuel costs for hauling feed and grain. The move is a routine weekly data update tied to the storm.
freightwaves.comJohn KingstonAug 30, 2021Not 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.
