# War-driven diesel rally continues to lift soybean oil amid renewable diesel margin strength - Fastmarkets

> Chicago soybean oil rose to 67.3 cents per pound in the week ending March 13, extending its rally. Disruption to global diesel supply from the Middle East conflict and the effective closure of the Strait of Hormuz lifted heating oil to its highest since June 2022.

- Date: 2026-03-17 · published 2026-03-17T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/4711-war-driven-diesel-rally-continues-to-lift-soybean-oil-amid-renewable-diesel
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher diesel prices widen renewable diesel margins and boost demand for soybean oil feedstock, supporting vegetable oil prices. The rally depends on whether Hormuz disruption persists.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DIESEL | 2026-03-17 | 5 | +18.8% | 3.2 | On Mar 17 heating oil hit its highest since June 2022 on Middle East diesel supply disruption, which directly confirms the diesel rally in the window. |
| DIESEL | 2026-03-15 | 5 | +17.6% | 3.2 | Heating oil hit its highest since June 2022 in the week ending March 13 on Middle East diesel supply disruption, directly confirming the ULSD move in the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2026-03-12 | [War-driven energy rally may deepen rare soybean oil discount to palm oil \| S&P Global](https://feedsoft.ai/events/4715-war-driven-energy-rally-may-deepen-rare-soybean-oil-discount-to-palm-oil-s-and.md) | -5.5% | -1.7% |
| SBO | 2022-02-22 | [Grains, soybeans rally on fear of Russia-Ukraine conflict, surging oil \| Reuters](https://feedsoft.ai/events/8756-grains-soybeans-rally-on-fear-of-russia-ukraine-conflict-surging-oil-reuters.md) | +3.2% | -0.2% |
| SBO | 2023-07-17 | [November Soybean Futures Continue to Climb Higher - AgWeb](https://feedsoft.ai/events/35114-november-soybean-futures-continue-to-climb-higher-agweb.md) | +0.1% | -2.4% |
| SBO | 2026-04-29 | [ICE canola weekly: Crude oil key to canola strength \| Farmtario](https://feedsoft.ai/events/19854-ice-canola-weekly-crude-oil-key-to-canola-strength-farmtario.md) | +2.6% | -2.9% |
| SBO | 2024-08-26 | [Palm and soybean oil prices rise in response to recovery in crude oil prices](https://feedsoft.ai/events/28878-palm-and-soybean-oil-prices-rise-in-response-to-recovery-in-crude-oil-prices.md) | +3.3% | +1.0% |
| DIESEL | 2025-10-22 | [Diesel Rally Collides With Structural SAF Shift – China Takes More EU Market Share](https://feedsoft.ai/events/10175-diesel-rally-collides-with-structural-saf-shift-china-takes-more-eu-market-share.md) | +7.6% | +21.9% |
| DIESEL | 2023-12-18 | [Diesel benchmark down again, futures markets up amid Red Sea tension - FreightWaves](https://feedsoft.ai/events/32876-diesel-benchmark-down-again-futures-markets-up-amid-red-sea-tension-freightwaves.md) | +1.0% | +1.3% |
| DIESEL | 2025-11-12 | [Diesel Margins Rally as Russian Exports Plunge - OPIS, A Dow Jones Company](https://feedsoft.ai/events/22121-diesel-margins-rally-as-russian-exports-plunge-opis-a-dow-jones-company.md) | +6.2% | -10.1% |

## Sources

- fastmarkets.com: https://www.fastmarkets.com/insights/war-driven-diesel-rally-continues-to-lift-soybean-oil-amid-renewable-diesel-margin-strength/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.