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EIA data showed Gulf Coast ULSD diesel stocks rose 1.19 million barrels to 54.69 million barrels in the week ended July 31, the highest since EIA began recording the series in 2004. Midwest stocks also built to near a two-month high.
Record regional diesel inventories point to ample supply and downward pressure on diesel prices, which lowers transport costs for feed mills.
spglobal.comAug 5, 2020After 86 past bearish report events, ULSD / Diesel moved a median -0.9% over 5 sessions (37% higher; middle half -4.3% to +0.9%), and +0.4% 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.
