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The DOE/EIA weekly retail diesel average rose 0.6 cents to $3.344 a gallon, its 12th straight weekly increase and the highest since December 2014. On the same day, ULSD futures fell 12.81 cents to $1.9852, a 6.06% drop, amid a broad sell-off in financial assets tied to the Delta variant and OPEC+ output news.
Retail diesel lags wholesale futures, so the sharp futures drop points to lower fuel surcharge and input costs ahead, even as retail prices remain elevated.
freightwaves.comJohn KingstonJul 19, 2021Not 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.
Describes a sharp ULSD futures sell-off on Delta variant demand fears and OPEC+ output news, a sentiment and demand shock matching the move, though the dated 7/19 drop (-6.06%) differs from the stated window ending 7/18 so timing is imperfect.
