# Diesel Prices Collapse, Then Rebound: What's Driving Volatility? - FreightWaves

> ULSD futures on the CME plunged 25.45 cents per gallon in one session on loose social media talk of US-Iran peace discussions, then rebounded 10 to 11 cents the next day after Iranian officials said no deal was closer. The weekly DOE benchmark fell modestly to $6.292 per gallon.

- Date: 2026-11-03 · published 2026-11-03T21:09:34.839Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/78403-diesel-prices-collapse-then-rebound-what-s-driving-volatility-freightwaves
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Roughly 10 million barrels per day of refining capacity is offline and distillate inventories are very low heading into heating-oil season, so diesel prices remain structurally tight and prone to spikes, which raises freight and feed-processing costs.

## Read by commodity

- DIESEL: bullish ▲

## Sources

- freightwaves.com: https://www.freightwaves.com/news/diesel-prices-collapse-then-rebound-whats-driving-volatility

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.