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A weekly energy review reports that petroleum prices have rebounded after a bear market, with RBOB and ULSD futures up over 16 cents from June lows. U.S. crude output reached 9.37 million barrels per day, while the IEA said global oil demand accelerated in the second quarter.
Stronger demand and firm prices raise the cost of diesel and fuel inputs for feed transport and processing, which supports crude and diesel prices.
fuelsmarketnews.comAlan H LevineJul 17, 2017After 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.
After 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.
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.
