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U.S. distillate inventories rose by 3.5 million barrels in the week to May 8 despite higher distillate demand. Jet fuel demand has fallen sharply, and gasoline supplies declined as consumer demand recovers.
Rising distillate stocks signal a surplus that weighs on diesel prices, while the recovery in gasoline demand narrows the gap between diesel and gasoline prices.
fuelsmarketnews.comAlan H LevineMay 19, 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.
