Free Trial

Resilient US Diesel Demand on Trucking and Rail Traffic: JPM


A nascent recovery in truck utilization is supporting resilient US freight diesel demand as rail traffic increases to a 2023 high according to JPMorgan.

  • Global oil demand averaged 100k b/d below expectation in October at 102.1m b/d.
  • China’s oil demand surged to 16.8m b/d in October and “decoupled” from its economy after below expected China NBS and Caixin PMIs.
  • Total oil demand in Germany, France and Spain in August fell 380k b/d yoy.
  • EIA this week revised the monthly diesel demand for August higher from the weekly data rising from 3.76m b/d to 4.13m b/d.
  • EIA data yesterday showed a decline in weekly diesel demand taking the four week average implied demand down to the low end of the previous five year seasonal range.

To read the full story



MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.