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U.S. diesel markets are unusually strong for the season, driven by robust exports to Latin America and higher domestic demand. Distillate demand was up 8.3% year on year and stocks fell more than 23 million barrels in the first five months, the largest drop since 2012.
Refiners have maximized diesel output and the diesel crack spread hit its highest level since January.
Tight distillate inventories and firm export pull support diesel prices and refinery margins, which feeds into costs for feed transport and farm fuel.
sweetcrudereports.comHector IgbikiowuboJun 3, 2017Not 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.
