Loading…
The EIA reported a rise in US distillate inventories in the week ending late October 2022, with a significant gain in East Coast ULSD stocks. Total distillate stocks were still only about 82% of the five-year average.
Industry executives described the market as running on fumes ahead of winter.
A stock build eases the tightest supply conditions, but inventories remain well below normal, so diesel prices stay elevated. Improvement is expected to be gradual through winter.
freightwaves.comJohn KingstonNov 2, 2022After 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.
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.
