◂ Event Timeline

May 30, 2017MACROCanada

Canada to Open First Refinery in Decades in Glutted Fuel Market

North West Redwater's Sturgeon refinery in Alberta, Canada's first new refinery since 1984, will start producing about 40,000 barrels a day of diesel by year end. Alberta diesel demand is falling after a recession.

WHY IT MATTERS

Added diesel supply into a market already in surplus is bearish for diesel prices and for truck-fuel margins relative to crude.

AFFECTSDIESEL▼

SOURCE
industryweek.comBloombergMay 30, 2017

Price reaction & history

DIESEL▼bearishSO FAR1d -1.1%5d -7.1%20d -11.9%

After 79 past bearish macro events, DIESEL moved a median -1.0% over 5 sessions (39% higher; middle half -5.7% to +1.7%), and -1.5% over 20.

Sep 30, 2020Europe's Oil Refineries Struggling to Cope With Diesel Glut | Financial Post+6.8%
Mar 20, 2020How COVID-19 impacted grain, energy markets this week+1.3%
Jan 28, 2020Diesel Fuel Market Stable as IMO Mandate Takes Hold - TT-5.8%
Apr 9, 2025Market Talk | Energy Futures Down 17-23% in Early Morning Trading+2.1%
Dec 10, 2025Diesel Futures Slide as ULSD Market Weakens and Inventories Rise Across Global Oil Markets - oftrb.com-5.9%

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.

DIESEL · GP ▸

——— · ·

Loading…