# Granholm calls for more oil production while diesel plunges for the day - FreightWaves

> ULSD futures on CME fell 97.3 cents to settle at $3.4643 a gallon on March 9, 2022, a 21.9% one-day drop that erased the gains since the early-March war-driven surge. WTI fell 12.56% and Brent 10.2% the same day. Energy Secretary Jennifer Granholm, speaking at CERAWeek in Houston, urged oil producers to increase output.

- Date: 2022-03-09 · published 2022-03-09T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/4718-granholm-calls-for-more-oil-production-while-diesel-plunges-for-the-day
- Commodities: [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

The sharp fall wipes out recent risk premium in diesel and crude, pointing to lower diesel input costs for feed transport and processing in the near term. Volatility like this can reverse quickly if supply concerns return.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼
- DIESEL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| BRENT | 2022-03-09 | 1 | -12.5% | -5.8 | Same-day collapse in diesel and crude, with the Energy Secretary urging more output, reinforces the supply-response sentiment. |

## Sources

- freightwaves.com: https://www.freightwaves.com/news/granholm-calls-for-more-oil-production-while-diesel-plunges-for-the-day

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