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Weekly federal data showed a historic one-week swing in US diesel inventories, the largest change seen in at least 30 years. The report points to a possible end to the prolonged weak diesel market that has benefited carriers.
A sharp inventory draw narrows the crude-to-diesel spread from near-record lows, which tends to firm diesel prices and raise carriers' fuel costs.
freightwaves.comJohn KingstonOct 19, 2020After 109 past bullish report events, ULSD / Diesel moved a median +0.2% over 5 sessions (51% higher; middle half -3.3% to +3.9%), and +0.3% 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.
