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The American Petroleum Institute reported total U.S. fuel deliveries reached 20.3 million bpd in June, the highest June level in a decade. Distillate demand rose 4.1% and jet fuel rose 6.1%, while gasoline fell 0.5%.
U.S. crude output was 9.34 million bpd, the highest for the month in 45 years.
Stronger diesel and jet demand supports crude and diesel prices, though high U.S. output limits the upside. Higher diesel prices raise trucking and feed delivery costs.
ttnews.comJessica SummersJul 31, 2017After 131 past bullish report events, Crude Oil (WTI) moved a median +1.2% over 5 sessions (60% higher; middle half -1.3% to +3.4%), and +2.9% over 20.
After 109 past bullish report events, ULSD / Diesel moved a median +0.2% over 5 sessions (51% higher; middle half -3.3% to +3.9%), and +0.3% 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.
