Loading…
The DOE/EIA weekly retail diesel price rose 5.9 cents to $5.16 a gallon, the third-highest in the series. ULSD futures jumped 3.87% to $4.0909 on a day when crude fell, widening the Brent-ULSD spread to about $69.50 a barrel as traders struggled to find barrels ahead of expiry.
A short squeeze on diesel futures, with crude falling, signals a physical shortage that raises diesel costs independent of crude and feeds into freight surcharges for feed deliveries.
freightwaves.comJohn KingstonApr 25, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
On April 25 ULSD jumped 3.87% while crude fell, with the Brent-ULSD spread widening as traders struggled to find barrels ahead of expiry, indicating a physical squeeze.
