# Surging Diesel Demand Is Underpinning Crude Oil’s Bull Market - Bloomberg

> Bloomberg reports that surging demand for ultra-low sulfur diesel is pushing up crude oil prices. Industrial activity is strong worldwide, and total oil consumption growth in 2017 is running well above the 10-year average.

- Date: 2017-09-27 · published 2017-09-27T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/69113-surging-diesel-demand-is-underpinning-crude-oil-s-bull-market-bloomberg
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Strong diesel demand tightens the crude balance and supports energy-linked feed costs, including freight and fertilizer inputs. Price implication is firmer crude and diesel.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-10-26 | [Weak dollar, big U.S. crude exports buoy oil markets](https://feedsoft.ai/events/39037-weak-dollar-big-u-s-crude-exports-buoy-oil-markets.md) | +2.6% | -6.1% |
| WTI | 2016-11-30 | [OPEC Deal Is Bad News for U.S. Gas and Good News for LNG - Bloomberg](https://feedsoft.ai/events/74028-opec-deal-is-bad-news-for-u-s-gas-and-good-news-for-lng-bloomberg.md) | +12.5% | +19.3% |
| WTI | 2017-11-03 | [US crude closes at highest level since 2015 as growing global demand supports market](https://feedsoft.ai/events/68147-us-crude-closes-at-highest-level-since-2015-as-growing-global-demand-supports.md) | +4.8% | +7.0% |
| WTI | 2020-11-09 | [Oil Jumps With Vaccine News Igniting Hopes of Improved Demand - Bloomberg](https://feedsoft.ai/events/11790-oil-jumps-with-vaccine-news-igniting-hopes-of-improved-demand-bloomberg.md) | +8.0% | +23.5% |
| WTI | 2021-10-27 | [U.S. demand for oil surges, depleting tanks in Oklahoma](https://feedsoft.ai/events/44715-u-s-demand-for-oil-surges-depleting-tanks-in-oklahoma.md) | -1.6% | -8.1% |
| BRENT | 2022-10-26 | [Weak dollar, big U.S. crude exports buoy oil markets](https://feedsoft.ai/events/39037-weak-dollar-big-u-s-crude-exports-buoy-oil-markets.md) | +2.4% | -4.5% |
| BRENT | 2017-11-03 | [US crude closes at highest level since 2015 as growing global demand supports market](https://feedsoft.ai/events/68147-us-crude-closes-at-highest-level-since-2015-as-growing-global-demand-supports.md) | +5.8% | +4.7% |
| BRENT | 2020-11-09 | [Oil Jumps With Vaccine News Igniting Hopes of Improved Demand - Bloomberg](https://feedsoft.ai/events/11790-oil-jumps-with-vaccine-news-igniting-hopes-of-improved-demand-bloomberg.md) | +8.7% | +26.9% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2017-09-27/forget-opec-the-acronym-really-driving-oil-prices-is-ulsd

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.