PNW ULSD Basis Sinks 8cts on Lower Offers


   
Kristina Davis
DTN Refined Fuels Market Reporter

   MIAMI, FL (DTN) -- Pacific Northwest ultra-low sulfur diesel (ULSD) basis 
plunged on Monday (3/2), slipping by 8cts to a 3.5cts premium to April NYMEX 
ULSD futures contract after lower offers at that level were heard in the spot 
market.

   Market sources said an offer for PNW ULSD was heard last at a 4cts premium 
over the same benchmark, but deals were in that range were not confirmed at the 
time of publication.

   The PNW ULSD premium to the front-month NYMEX ULSD futures contract narrowed 
Monday after the benchmark rose over 14% on the day. The sharp increase was 
driven by escalating global supply concerns following the outbreak of military 
strikes between the United States-Israel and Iran over the weekend. 




(c) Copyright 2026 DTN, LLC. All rights reserved.