Source: Ashley Robinson, Commodity News Service Canada, November 6, 2018
As supply tightens, farmers should consider stocking up on diesel before it’s too late, according to an analyst.
“We think the market’s getting kind of overdone down here and this might be your best chance… if we do get a cold winter I think we’ll see these prices really pop,” said Phil Flynn of The Price Futures Group in Chicago, Ill.
Crude oil prices have been down lately. On Nov. 5 Brent crude closed at US$72.16 per barrel and West Texas Intermediate crude at US$62.52. Both oil benchmarks have slid more than 15 percent since hitting four-year highs in early October.
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