# The FreightWaves oil report: "Puts" put the pressure on petroleum prices - FreightWaves

> WTI crude settled at $45.59 on Friday, roughly unchanged from the prior week's close after a volatile week that included a Christmas Eve drop of nearly $3, a rise of over $3.50 the next day and another fall of more than $1.50. ULSD futures fell about 7 cents over the week to $1.6647. Analysts, led by Goldman Sachs and Philip Verleger, pointed to trader selling tied to hedging as a driver of the swings.

- Date: 2018-12-29 · published 2018-12-29T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/61733-the-freightwaves-oil-report-puts-put-the-pressure-on-petroleum-prices
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Lower crude and diesel futures reduce fuel costs for feed transport and processing, while the OPEC+ cut of 1.2 million b/d does not take effect until January, leaving the price path uncertain. Feed buyers face lower energy input costs but volatile pricing.

## Read by commodity

- WTI: bearish ▼
- DIESEL: bearish ▼

## Sources

- freightwaves.com: https://www.freightwaves.com/news/energy-oil-market-options-hedging

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.