Laden…
The US diesel market is weakening as the COVID-19 downturn cuts demand, with the four-week average product supplied near 3.9 million b/d, the lowest for early April since 2016. Weekly diesel demand fell 28% and diesel refining margins dropped to $18.43 per barrel.
Falling diesel consumption and refining margins point to lower diesel prices and reduced refinery runs, a bearish signal for distillate-linked energy costs.
hydrocarbonprocessing.com17 apr 2020Na 79 eerdere neerwaarts macro-gebeurtenissen bewoog ULSD / Diesel zich mediaan -1,0% over 5 sessies (39% hoger; middelste helft -5,7% tot +1,7%), en -1,5% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
Weak US diesel demand (down 28% weekly) and shrinking refining margins gave a fundamental demand-side reason for diesel to fall.
Weak US diesel demand and shrinking refining margins before the move reflected a fundamental demand backdrop that left diesel vulnerable to the crude shock.
