Jeffrey Bair, Bloomberg, writes about diesel demand, here..
“Whether it’s champagne, Harley-Davidson motorcycles or new TVs, Americans keep buying more stuff, and all of it needs to get hauled to warehouses, storefronts and doorsteps in trucks that typically run on diesel.
Robust diesel consumption was a saving grace for the refining industry when demand plummeted for just about every other oil product during the first part of the pandemic. Now that gasoline use is surging and jet fuel for U.S. travel is showing signs of life, the staying power for diesel adds more heft to the idea that oil’s demand comeback is here to stay.”
And here is the diesel crack (diesel futures minus WTI futures) from barchart.com:
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