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Russian ultra-low-sulfur diesel is heading to New York Harbor in an unusual move. It follows recent reverse transatlantic shipments of Saudi and Chinese ULSD.
The cargoes are sent into a market that has been short on distillate.
Additional imported diesel into New York Harbor eases the tight US distillate supply and can pressure East Coast prices. Heating oil and trucking fuel costs could be somewhat softer as a result.
energyintel.comDec 13, 2017After 28 past bearish trade events, ULSD / Diesel moved a median -0.1% over 5 sessions (50% higher; middle half -5.0% to +1.7%), 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.
