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International buyers are purchasing US-made diesel as fast as refiners can produce it, with seasonal factors allowing Atlantic and Gulf coast refiners to boost exports to Europe and South America. This comes as a global glut has pushed crude to five-month lows.
Strong export demand for US middle distillates supports diesel prices even though crude is weak.
bloomberg.comLaura BlewittMay 4, 2017After 26 past bullish trade events, DIESEL moved a median -1.9% over 5 sessions (31% higher; middle half -5.6% to +1.6%), and -4.8% 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.
