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Energy Intelligence reports that Europe's jet fuel oversupply is spilling into the ULSD market, with diesel trading at its lowest value versus crude in 18 years. The article notes a second wave of Covid-19 infections and possible lockdowns in Europe.
Weak European diesel values point to soft demand for road fuel and lower energy costs for feed logistics, a mild bearish signal for diesel-linked costs.
energyintel.comAuthor Kerry PrestonSep 3, 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.
