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The EIA's January 2019 Short-Term Energy Outlook says the IMO's 0.5% marine fuel cap, effective January 1, 2020, will raise diesel margins and modestly lift crude prices in late 2019 and early 2020. It also expects wider discounts for heavy-sour crude and wider spreads between high- and low-sulfur products.
Higher diesel demand from shipping and wider sour crude discounts shift refinery economics, affecting diesel costs for farm and trucking fuel buyers.
oilandenergyonline.comO&E Staff ReporterFeb 20, 2019After 109 past bullish report events, ULSD / Diesel moved a median +0.2% over 5 sessions (51% higher; middle half -3.3% to +3.9%), and +0.3% over 20.
After 116 past bullish report events, Crude Oil (Brent) moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% over 20.
After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% 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.
