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Crude traded near $62.73 on May 20, 2019, roughly flat from Friday. Gasoline and diesel prices fell as fuel crack spreads eased from elevated levels.
Analysts noted diesel supplies were tightening ahead of IMO 2020 demand, and Ray Dalio argued the US-China dispute is an ideological rivalry rather than a conventional trade war.
Easing crack spreads weigh on refined product prices, while early diesel tightness ahead of IMO 2020 could support diesel prices later in the year. Trade-dispute uncertainty keeps crude direction unclear.
mansfield.energyAshley FisherMay 20, 2019After 12 past neutral trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (33% higher; middle half -3.6% to +0.9%), and +1.2% over 20.
After 65 past trade events, ULSD / Diesel moved a median -1.2% over 5 sessions (43% higher; middle half -5.2% to +2.6%), and -1.6% 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.
