The cash differentials of Group Three ultra-low sulphur diesel in the US Midwest fell to their lowest levels since January, trading at 2.50 cents per gallon below the heating oil futures benchmark. In Europe, a drop in fuel prices has helped push up demand for diesel, which is used as an industrial lubricant and fuel. One broker said prices could be squeezed further by an influx of US Gulf Coast diesel, which also fell to a 10-month low, trading at 9.50 cents per gallon below futures.
The cash differentials of Group Three ultra-low sulphur diesel in the US Midwest fell to their lowest levels since January, trading at 2.50 cents per gallon below the heating oil futures benchmark. It follows October's 4.25 cents per gallon above futures, the highest since November 2017. One broker said prices could be squeezed further by an influx of US Gulf Coast diesel, which also fell to a 10-month low, trading at 9.50 cents per gallon below futures.