Crude Oil & wholesale Diesel futures

OPEC have agreed to cut production, Russia have not, it is driving crude oil prices higher. This is being mitigated by a stronger £ and to a lesser degree a stronger €, but should still see rises in agri diesel over the next few days.
 
Diesel should drop in price over the next few days, from a high earlier in the week. The latest report has shown a big jump in stocks of refined products and has pushed the Rotterdam ULSD wholesale diesel prices down by about 3c/L.
 
What way is home heating oil at the moment?
I don't follow Kero as closely as diesel, it is going lower but not by as much as diesel I think, about 2c/L. Probably Monday or Tuesday before the price drop feeds through and some are way slower to pass on price reductions.
 
That price drop didn't last long, the markets decided today to jump back up almost as much as they dropped over the last days.
Some diesel/kero sellers may not even offer the lower prices, but good ones should on Monday or Tuesday.
 
Wholesale diesel future prices are rising significantly today after a nice steady drop over the last week or so. It should be a good time to price around if you need diesel or kerosene.
 
Wholesale ULSD (agri diesel) has just gone over $600/100ton. :tdown:.
The strengthened €uro and even more so the £ will reduce the rises a bit.
 
Brent Crude has dropped below $60/barrel and wholesale ULSD, diesel, down nearly 10c/L since early January.
The Coronavirus is supposed to driving some f the drop along with warm temps in US and trade wars slowing most economies.
 
Is the crude oil futures the most volatile commodity or what ?
Seems to be up and down like a yoyo.
There are a lot of competing forces influencing the oil trade.
The Covid 19 virus is after having a massive impact of engery use.
 
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How long should it take to lower the end user price @gone ? Their is speculation atm about the UK gov going to cut/scrap the red rebate at the budget
 
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