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Diesel notches record 12-month gain in Bloomberg Heating Oil Subindex, Mike McGlone notes

Diesel notches record 12-month gain in Bloomberg Heating Oil Subindex, Mike McGlone notes
Diesel posts largest 12-month gain

Mike McGlone highlights a significant move in the diesel market, noting that the Bloomberg Heating Oil (Diesel) Subindex Total Return has never experienced a greater 12-month advance than the approximately 150% gain achieved through September 28 since the index's inception in 1987.

McGlone suggests this historic rise in diesel prices increases the potential for deflationary risks in the energy sector.

Earlier this year, McGlone drew comparisons between gold's first-quarter high near $5,600 an ounce and crude oil's 2008 rally, citing major shifts in commodity prices. He has also discussed how central bank rate hikes in reaction to rising energy prices could drive deflationary pressures in metals. These views frame McGlone's ongoing focus on extreme commodity moves and deflation risks.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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