Diesel Prices Retreat as Supply Returns: Market Signals and Risks to Watch in 2026

In this episode of Focus on Fuels, Alex Hodes and Trevor McClanahan from the StoneX Energy Desk break down the recent decline in diesel prices and what it signals for fuel markets heading into 2026.

They discuss how refinery restarts and seasonal demand shifts are rebuilding supply, what the flattening forward curve reveals about market expectations, and why inventories remain a key factor despite recent price weakness. The conversation also covers geopolitical developments involving Russia, Venezuela, and OPEC, and how those risks could reenter pricing.

The episode concludes with practical insights for fuel buyers and risk managers evaluating whether current diesel prices offer an opportunity to reduce exposure ahead of the new year.