Reported about 1 year ago
The Department of Energy/Energy Information Administration reports that retail diesel prices have dropped for the ninth consecutive week to $3.658 a gallon, the largest one-week decline since December 18. The retail prices are trailing behind declines in future and wholesale prices, particularly in ultra low sulfur diesel futures, which have shown signs of a possible turnaround. Despite no significant bullish news, a noticeable rise in oil prices on Monday, including the ULSD contract on the CME, sparked speculation among traders that the market may be stabilizing after weeks of steady drops.
Source: YAHOO