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Distillate prices, mainly diesel, are leading the broader oil market higher amid a global diesel shortage. The pressure is spilling over into gasoline and crude oil markets.
The article is truncated before it gives U.S. price details.
Higher diesel costs raise freight, fuel and processing expenses for feed producers and push up crude benchmarks that feed into energy-linked commodity prices.
reuters.comJohn KempMar 24, 2022After 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 656 past bullish geopolitics events, Crude Oil (Brent) moved a median +1.9% over 5 sessions (63% higher; middle half -2.7% to +6.6%), and +0.7% 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.
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.
