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US diesel futures rose to a record intraday high of $4.67 a gallon on March 9, 2022, above the 2008 peak of $4.15, before plunging more than $1.30 and settling down 97 cents. The DOE reported bullish distillate inventory data, with US diesel stocks at an eight-year low of about 26 days of supply versus a seasonal average of 35 days.
Tight US distillate inventories and reduced refining capacity leave little cushion against supply shocks, which supports diesel prices and raises freight costs for feed deliveries. The sharp day-to-day swings make hedging costlier.
tacenergy.comMar 10, 2022Not 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.
