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Nymex ULSD futures settled at a record $4.4679 a gallon, surpassing the prior record set on March 8, when the US sanctioned Russian oil. Buyers in Latin America and elsewhere have increased demand for diesel, making it the world's most in-demand fuel.
Tight global diesel supply after Russia sanctions lifts diesel prices and raises fuel and freight costs for feed producers and haulers. Higher diesel also feeds into transport and processing costs across the feed chain.
bloomberg.comChunzi XuApr 26, 2022After 250 past bullish geopolitics events, ULSD / Diesel moved a median +1.7% over 5 sessions (58% higher; middle half -3.6% to +8.7%), 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.
ULSD futures settled at a record $4.4679 on April 26 amid deepening shortage and strong export demand, reflecting the supply squeeze driving the sharp gain.
