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Diesel has become the most profitable refined product as jets are grounded and cars parked, and it is keeping some refineries operating. Houston diesel spot prices traded more than 40 cents per gallon above 87-octane gasoline, and the Nymex diesel crack against WTI stayed above $22 a barrel.
Trucking demand from online retail and medical deliveries stayed strong.
Stronger diesel demand and margins relative to gasoline support diesel prices even as overall oil demand is weak. Refiners keeping diesel output going helps limit how far diesel prices fall for transport users.
ajot.comBloombergMar 31, 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.
