Traders Are Betting On A Tightening Global Diesel Market

Despite the economic slowdown in the U.S. and Europe and a failed strong rebound in China, the diesel market globally is tight and set to enter the crop and heating seasons with lower-than-average inventories.   The prices of middle distillates and diesel futures have jumped in recent weeks, outpacing the increase in Brent crude oil prices, which have moved into the $80-85 a barrel bandwidth from the previous range of $75-80.  Portfolio managers and speculators are increasingly betting on higher diesel prices amid seasonally low…