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ULSD diesel futures on the CME fell 28.85 cents per gallon on Friday, November 26, 2021, settling at $2.0945. The drop came as oil and equity markets sold off on fears about a new coronavirus variant, and it was among the largest single-day declines in the contract's history.
ULSD is the basic building block for wholesale diesel and therefore retail trucking fuel costs, so a sharp futures drop lowers diesel-linked expenses for feed transport, though the move reflects demand fear rather than supply change.
freightwaves.comJohn KingstonNov 26, 2021Not enough comparable past events yet for a historical read.
Not 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.
ULSD futures fell 28.85 cents on Nov 26, one of the largest single-day drops in the contract's history, which accounts for most of the 5-day decline.
It documents the ULSD futures drop of 28.85 cents to $2.0945 on Nov 26, the move being explained, which was driven by the oil and equity sell-off on variant fears.
