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Oil futures fell sharply in the week ended March 19, with WTI losing $4.19 to settle at $61.42 and ULSD dropping about 20%. Open interest in distillate contracts declined, which the author reads as traders liquidating positions after the rally since November.
A pullback in crude and diesel lowers energy and transport costs for feed producers, though the move is a routine price retracement rather than a new supply shock.
fuelsmarketnews.comAlan H LevineMar 25, 2021Not enough comparable past events yet for a historical read.
Not 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.
