Commodities
Diesel Demand Hits 26-Year Seasonal Low in US on Slowing Economy
- Downward revision seen as signal that oil demand at risk
- Crude refining margins are weakening around the globe
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US diesel demand plummeted to its lowest seasonal level in 26 years in March, driven by slowing economic growth.
Product supplied of distillate — the fuel that powers trucking, heating and heavy industry — plunged to 3.67 million barrels a day, according to monthly data from the US Energy Information Administration. That figure marks a downward revision from the agency’s previous estimates.