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Traders bought gasoline and diesel from Europe, Singapore and Canada to cover shortages in the US, Mexico and Brazil after Harvey shut about a quarter of US refining capacity. The Colonial Pipeline was set to shut its main Northeast lines due to lack of supply.
Fuel shortages and rerouted cargoes raise prices for diesel and crude across the Americas. Higher fuel costs also feed into freight and logistics expenses for feed.
hydrocarbonprocessing.comAug 31, 2017After 39 past bullish weather events, ULSD / Diesel moved a median +2.4% over 5 sessions (59% higher; middle half -4.5% to +6.1%), and +8.9% over 20.
After 24 past bullish weather events, Crude Oil (Brent) moved a median +2.8% over 5 sessions (67% higher; middle half -1.9% to +5.2%), and +6.3% 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.
