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The U.S. average retail diesel price rose 2.2 cents to $2.819 a gallon, the highest since July 2015, according to the Department of Energy. The increase followed oil rallying on expectations that OPEC production cuts would extend into 2018.
Higher diesel and crude prices raise trucking and fuel costs for feed delivery and grain transport, and reflect OPEC-driven crude strength.
ttnews.comRoger GilroyOct 30, 2017After 105 past bullish macro events, ULSD / Diesel moved a median -0.4% over 5 sessions (45% higher; middle half -3.4% to +1.8%), and +1.2% over 20.
After 487 past bullish macro events, Crude Oil (WTI) moved a median +1.0% over 5 sessions (60% higher; middle half -2.0% to +4.0%), and +1.5% 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.
