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Wood Mackenzie's Genscape weekly update says European ULSD demand rose as lockdowns eased and industrial demand recovered. That demand was met by drawing storage, not by higher refinery runs.
Imports from the Baltic and Middle East slumped, tightening European supply.
Tighter European diesel supply supports diesel prices, which raise fuel and freight costs for feed ingredient logistics. The effect on feed commodity prices is indirect.
woodmac.comJul 27, 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.
