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Wholesale diesel in Europe fell from about $750 per ton in October to $550 by late November, but record-low Rhine water levels kept German retail costs high through barge transport constraints. OPEC and allies agreed to 1.2 million b/d in cuts, and Alberta plans a 325,000 b/d reduction starting in 2019.
Low Rhine water raises inland barge freight costs, a logistics constraint that affects European fuel and grain movements. Announced supply cuts are expected to tighten crude markets in the coming months.
dhl-freight-connections.comDec 27, 2018After 113 past bullish logistics events, DIESEL moved a median +0.6% over 5 sessions (54% higher; middle half -2.8% to +4.2%), and +0.2% over 20.
After 22 past bullish logistics events, BRENT moved a median -0.7% over 5 sessions (45% higher; middle half -5.7% to +4.5%), and -1.2% over 20.
Not enough comparable past events yet for a historical read.
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.
