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John Kemp reports that US distillate stocks were 20% above the five-year average in early October, down from 29% in June. Forward refining margins are edging higher, and refiners are cutting runs to work off the excess.
Narrowing the surplus and recovering refining margins point to firmer diesel prices into 2021 as stocks normalise.
energynow.comJohn KempOct 4, 2020Not 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.
