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Energy Aspects reports that refiners worldwide have shifted output away from jet fuel toward diesel, with diesel yields hitting record or multi-year highs in Europe and Japan. The shift has produced an oversupplied diesel market that Energy Aspects expects to stay under downward pressure.
Refiners have cut jet output to prevent inventories from building further.
Persistent diesel oversupply lowers the cost of diesel-based freight and farm fuel, but it also signals weak refinery margins that could limit refinery runs.
freightwaves.comJohn KingstonJun 1, 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.
