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The International Energy Agency says global diesel supplies will stay tight until 2027. It attributes the shortfall to Middle East tensions and falling exports from Russia and parts of Asia, and says the G7 has requested an emergency oil stock release.
It also expects diesel prices to rise in importing markets such as Europe, Africa and Latin America.
A prolonged diesel shortfall and possible emergency stock release would raise crude and diesel costs, adding to transport and processing expenses for animal feed supply chains.
tradearabia.comLONDONMar 9, 2018After 109 past bullish report events, 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, BRENT moved a median +1.3% over 5 sessions (66% higher; middle half -1.0% to +3.1%), and +2.0% 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.
