# Oil Futures Mixed, ULSD Spikes to 6-Month High on Low Supply

> ULSD futures rallied for a sixth straight session on October 28, 2022, reaching a six-month high of about $4.55 per gallon settlement. Low middle-distillate inventories and shortages spreading across the East Coast drove the rally. Low Mississippi River levels constrained barge traffic, and Valero cut runs at its Memphis refinery by about 20%.

- Date: 2022-10-28 · published 2022-10-28T12:00:00.000Z
- Category: logistics · region US · magnitude medium
- Page: https://feedsoft.ai/events/7923-oil-futures-mixed-ulsd-spikes-to-6-month-high-on-low-supply
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Barge Freight (St. Louis)](https://feedsoft.ai/c/BARGE.md)

## Why it matters

Lower river levels restrict barge movement of fuel and grain, which raises regional diesel costs and farm logistics expenses. Reduced refinery runs tighten supply further, supporting diesel prices into the heating season.

## Read by commodity

- BARGE: bullish ▲
- DIESEL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| DIESEL | 2022-11-01 | 1 | -11.6% | -4.0 | The sixth straight rally session to a six-month high left prices stretched on thin supply, so the reversal from that peak was larger. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2017-08-31 | [US oil set for biggest monthly loss in over a year as floods hit demand](https://feedsoft.ai/events/69602-us-oil-set-for-biggest-monthly-loss-in-over-a-year-as-floods-hit-demand.md) | +7.1% | +8.9% |
| DIESEL | 2021-02-19 | [Traders rush to supply fuel to the U.S. as Texas freeze bites](https://feedsoft.ai/events/48823-traders-rush-to-supply-fuel-to-the-u-s-as-texas-freeze-bites.md) | +4.0% | -3.0% |
| DIESEL | 2024-01-26 | [Europe’s Diesel Supply Chain Threatened by High Freight Costs - TT](https://feedsoft.ai/events/32308-europe-s-diesel-supply-chain-threatened-by-high-freight-costs-tt.md) | -2.4% | -3.8% |
| DIESEL | 2021-02-18 | [Diesel fuel in short supply in Texas; prices on the rise - FreightWaves](https://feedsoft.ai/events/48825-diesel-fuel-in-short-supply-in-texas-prices-on-the-rise-freightwaves.md) | +4.0% | +3.4% |
| DIESEL | 2022-03-11 | [Oil Traders Jump Into Action as Europe Screams for Diesel Supply - TT](https://feedsoft.ai/events/4725-oil-traders-jump-into-action-as-europe-screams-for-diesel-supply-tt.md) | +5.0% | +1.3% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/news/world-policy/article/2022/10/28/crude-futures-fall-us-dollar-firms

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