NYMEX HO=F futures settled at $3.754/gal on June 2, while US Gulf Coast wholesale dropped to $3.694/gal — a 10% decline from the May 12 peak of $4.115/gal. Retail remains elevated at $5.350/gal, holding a $1.66/gal margin above wholesale. WTI crude held above $95/bbl at $95.43, meaning the diesel correction is a products-market phenomenon, not crude-driven. This report covers the wholesale price correction, distillate inventory positioning, refinery margins, and forward contracting strategy for H2 2026.
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