U.S. Rack Diesel Rebounds 11.66cts; Gasoline Up 1.96cts


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. wholesale rack prices for ultra-low sulfur 
diesel (ULSD) and gasoline rebounded Thursday (10/29), ending three consecutive 
days of declines despite weaker crude oil and refined product futures as 
renewed diplomatic efforts raised hopes of easing Middle East supply 
disruptions.

   Nationwide ULSD rack prices averaged $5.2658 gallon, up 11.66cts from 
Wednesday's revised $5.1491 gallon, according to DTN data. Conventional 
unleaded gasoline increased 1.96cts to $3.1615 gallon from $3.1419 gallon.

   The recovery in wholesale prices contrasted with declining energy futures 
following reports from multiple media outlets that U.S. Vice President JD Vance 
had contacted Iranian security official Mohsen Rezaei in an effort to restart 
peace negotiations. Prospects for reduced hostilities pressured crude prices, 
although uncertainty over regional oil shipments continued to influence the 
market.

   Wednesday's Energy Information Administration report provided additional 
supply context, showing commercial crude inventories fell 1.9 million bbl for a 
fourth consecutive weekly draw. Distillate stocks declined 1.5 million bbl to 
102.8 million bbl, while gasoline inventories increased 3.9 million bbl to 
209.2 million bbl.

   Against that backdrop, WTI futures fell $1.34 to $101.43 bbl, while NYMEX 
ULSD dropped 11cts to $4.7052 gallon and RBOB gasoline declined 4.45cts to 
$3.1289 gallon. The diesel crack fell $3.32 to $96.13 bbl, extending its recent 
retreat, while the gasoline crack declined $0.47 to $30.01 bbl.

   Despite weaker futures, diesel racks advanced across all five regions, led 
by the Midwest, where prices climbed 21.31cts to $5.3146 gallon. East Coast 
ULSD rose 9.76cts to $5.0624 gallon, while Gulf Coast prices increased 9.51cts 
to $5.0978 gallon.

   Gasoline prices rose in three regions, led by the West Coast, up 5.21cts to 
$3.8009 gallon. East Coast gasoline advanced 4.13cts to $3.0395 gallon, while 
Gulf Coast prices increased 3.13cts to $2.9621 gallon. Midwest gasoline fell 
3.29cts to $3.0381 gallon.




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