Diesel Disruption Amid Geopolitical De-escalation

Important day yesterday in Diesel from a technical perspective as broke through some support levels that have been keeping the summer range in place.  Could this be a signal lower prices are on the horizon?  De-escalation is the phrase of the week as an Israeli- Hamas peace deal is in place, for now,  as well as renewed trade talks with China.  This after a “bad moment” between the two presidents sent shock waves through all markets as fear of an all out trade war was eminent.  This walk back, on both sides, will take a long time to fully resolve and how it affects Oil pricing remains to be seen.  The oddity continues to be Diesel demand, recall last week showed large increases and this weeks figures showed a massive 20% increase over last week and almost 8% over last year.  The federal group that collects the data, while confirming some staffing shortages due to the shutdown, maintains the data’s integrity.  Traders appeared to look past it as markets slipped yesterday.  With an early cold snap in the Northeast, reality set in that IT is coming…. Yes, winter.   With the consensus being a La Nina pattern, the North typically sees cooler and wetter winters, while the south sees warmer and dryer periods.  Always good to start the winter diesel conversation, specifically as Kerosene is becoming increasingly harder to source.  I will give you one guess at who has already got this covered?