OIL FUTURES:ULSD leads complex higher as US,UK ban imports of Russian energy

摘要

Crude and oil products futures continued to rally March 8 following news that the US will ban imports of Russian energy products and the UK would phase out such imports by the end of 2022.ULSD led the complex higher,as Europe is heavily dependent on Russia for diesel fuel and for the feedstocks needed to produce diesel.NYMEX front-month ULSD settled at $4.4373/gal,up 51.58 cents on the day and up $1.54 since Feb.24,when the Russian invasion of Ukraine began.