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The US national average diesel price rose 14.7 cents from Tuesday to $4.04 per gallon, the first time in nearly two years. Iranian attacks on energy infrastructure and Strait of Hormuz disruption drove the increase amid tight global diesel inventories.
Higher diesel costs raise freight and processing expenses for feed makers and farmers, and firm energy prices can support soybean oil and palm oil through biofuel demand.
reuters.comNicole Jao, Shariq KhanMar 4, 2026After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), and +0.9% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
After 110 past bullish geopolitics events, Soybean Oil moved a median +1.8% over 5 sessions (65% higher; middle half -0.7% to +3.6%), 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.
