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European ULSD gained ground against crude despite the threat of new COVID-19 demand restrictions. The move was attributed to lower Russian arrivals into the region.
Reduced Russian diesel imports tighten European supply and support diesel prices, adding modest upward pressure on fuel costs.
energyintel.comAuthor Kerry Preston, UNITED KINGDOMOct 7, 2020After 113 past bullish logistics events, ULSD / Diesel moved a median +0.6% over 5 sessions (54% higher; middle half -2.8% to +4.2%), and +0.2% 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.
