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The EIA reported the US average retail diesel price fell 4 cents to $3.121 per gallon, the ninth straight weekly decline, with the price down 27.3 cents over that span. Declines occurred in all regions, and WTI traded below $50 as recession worries grew.
Falling diesel costs ease freight expenses for feed delivery. The price remains about 22 cents above a year earlier, so the benefit is partial.
ttnews.comJim StinsonDec 17, 2018After 86 past bearish report events, ULSD / Diesel moved a median -0.9% over 5 sessions (37% higher; middle half -4.3% to +0.9%), and +0.4% over 20.
After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% 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.
