New analysis from OptionMetrics, featured in FOW, highlights how demand for upside protection in U.S. diesel options has climbed to its highest level since the start of the Iran conflict. ULSD call skew has steepened significantly, while diesel crack spreads have reached record highs amid tight inventories, refining constraints, and continued supply pressures. OptionMetrics contributor Brett Friedman explores why refined products, particularly diesel, may be offering an increasingly important view into stress across the broader energy complex.
Diesel options skew surges as refining margins hit record highs
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