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Hedge funds and money managers hold a record number of Nymex diesel futures contracts betting on higher prices, while trimming bearish bets. U.S. diesel inventories are relatively low, exports have reopened, and the refining complex is back online after prior hurricanes.
Record speculative long positions combined with low stocks and firm export demand raise the risk of further diesel price gains, which affect transport and fuel costs.
energyintel.comNov 2, 2017Not 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.
