U.S. diesel futures jump while crude oil closes mixed

What happened: Crude and refined product futures closed mixed Tuesday while U.S. diesel futures rose sharply. The lifting of U.S. sanctions on Russian diesel and a new tax break for on-road dyed diesel use failed to bring prices down. Key numbers: Nymex crude for November rose 0.4% to $94.14/bbl. Why it matters: Analysts at ING and elsewhere said the proposed Russian volumes would do little to resolve tightness in global middle-distillate markets, and the market remains skeptical of a proposed Russia-Ukraine ceasefire covering energy infrastructure.

Crude and refined product futures closed mixed Tuesday while U.S. diesel futures rose sharply. The lifting of U.S. sanctions on Russian diesel and a new tax break for on-road dyed diesel use failed to bring prices down.

Analysts at ING and elsewhere said the proposed Russian volumes would do little to resolve tightness in global middle-distillate markets, and the market remains skeptical of a proposed Russia-Ukraine ceasefire covering energy infrastructure.