Diesel futures prices have made a stunning downturn in the past few days as signs of weakening demand in the U.S., rising inventories that have developed as a result and reports of Chinese exports have hit the once high-flying market.
Ultra-low-sulfur diesel on the CME commodity exchange settled Thursday at $3.2052 a gallon, down 17.37 cents on the day. That settlement follows a decline Wednesday of 16.24 cents. The overall drop marks a decline of just over 38 cents since the Sept. 7 settlement of $3.5860 per gallon, a recent high-water mark.
