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A Miami conference hosted by Argus on fuel oil and IMO 2020 gave few definitive answers on how markets will respond when the 0.5% sulfur rule takes effect January 1. Speakers, including PBF's chief economist, said the industry expects to adjust as the transition unfolds.
Uncertainty about how IMO 2020 will affect diesel supply and demand keeps the price impact unresolved. Markets may stay volatile until the rule starts.
freightwaves.comJohn KingstonOct 23, 2019After 27 past neutral policy events, DIESEL moved a median -1.4% over 5 sessions (41% higher; middle half -4.3% to +2.6%), and -4.6% 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.
