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Never trust a Truth

Trump's Truths are causing a stir, the distillates market has been through the ringer, the diesel situation is rather worrisome and there's
Published: 10 July 2026
Written by:
Will Cunliffe

Will Cunliffe

Research Analyst, The Officials
Will Cunliffe
and
Edward Hayden-Briffett

Edward Hayden-Briffett

Research Analyst, The Officials
Edward Hayden-Briffett
Reviewed by:
Jorge Montepeque

Jorge Montepeque

Head of Benchmarking, The Officials
Jorge Montepeque
Edition: Euro EditionVolume: 3Issue: 132
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Trump's Truths are causing a stir, the distillates market has been through the ringer, the diesel situation is rather worrisome and there's diverging fortunes in the jet market depending on which side of the pond you're on.

Trump’s Truth set the cat among the pigeons, split between bullishness and bearishness. He reiterated the ceasefire is over but also that talks will continue. So, prices spiked then dumped – from under $76 to $77.50 and back down to under $76.50. Who can blame the market for wanting a quiet weekend. It can’t even trade on Saturday and Sunday – and won’t be able to for a while, as CFTC delayed deliberation on the CME 24/7 crude futures proposal. Who would dare take a big view into a weekend while the world skates on such thin ice?

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About Euro Edition

Benchmark reports published at the close of the trading day in London.

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