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Energy Intelligence reports that ULSD prices slumped as Europe re-entered COVID-19 lockdowns. The region is expected to receive an influx of ultra-low-sulfur diesel imports.
European lockdowns reduce diesel demand and encourage imports, which weighs on global diesel prices and refinery margins. The effect on feed-relevant markets is indirect.
energyintel.comAuthor Kerry Preston, UNITED KINGDOMNov 4, 2020After 79 past bearish macro events, ULSD / Diesel moved a median -1.0% over 5 sessions (39% higher; middle half -5.7% to +1.7%), and -1.5% over 20.
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.
