r/CommoditiesHub
▲ 5 r/CommoditiesHub
U.S. Diesel Exports Defy Low Inventory Concerns
The U.S. is exporting diesel at unusually high levels, but that pace may not be sustainable given historically low inventories, James Noel-Beswick of Sparta Commodities said in a note.
He described it as a striking setup, with the country shipping diesel at record or near-record rates while its inventory base remains dangerously thin by historical standards.
U.S. distillate stocks stood at 102.5 million barrels last week and have not dropped below 100 million barrels since 2003. Noel-Beswick said last week’s 190,000-barrel build, which followed six straight weekly draws, was small but still symbolically important.
u/ItzDurjoy — 6 days ago
▲ 7 r/CommoditiesHub
Oil Futures Edge Higher Amid Rangebound Trading
Oil futures moved slightly higher in a sideways session as tensions around the Strait of Hormuz kept the market supported. Iran continued to assert control over the key waterway, while Presidents Trump and Xi Jinping, meeting in Beijing, said the route should remain open and that Iran should not be allowed to charge transit tolls.
U.S.-Iran talks remain stalled. Pavel Molchanov of Raymond James said prices are unlikely to reach new highs if the cease-fire holds, but added that a meaningful decline would likely require at least a partial U.S.-Iran deal to reopen Hormuz.
WTI and Brent both settled 0.1% higher at $101.17 and $105.72 a barrel, respectively.
u/No_Demand535 — 6 days ago