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The EIA reported diesel prices fell for a fourth straight week, down 0.4 cents to $2.558 per gallon. WTI averaged $52.27 per barrel, and the EIA's outlook calls for diesel to average $2.73 in 2017.
Softer diesel and crude prices reduce hauling costs for feed, though the trend is marginal.
stage.logisticsmgmt.comLM StaffFeb 7, 2017After 86 past bearish report events, ULSD / Diesel moved a median -0.9% over 5 sessions (37% higher; middle half -4.3% to +0.9%), and +0.4% over 20.
After 171 past bearish report events, Crude Oil (WTI) moved a median -1.5% over 5 sessions (37% higher; middle half -4.8% to +1.9%), and -0.9% 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.
