Rising container shipping volumes ahead of Lunar New Year are driving incremental ULSD demand in Asia. Futures traders are factoring this into March contract pricing with moderate bullish bias. NYMEX Overview: Petroleum Futures Weaken on Oversupply, US Demand Worries -- OPIS In the long term, ULSD prices have a high correlation with RBOB and WTI futures. However, in the short term, they will be impacted by their own unique sets of buyers and sellers. This can lead to different technical set-ups for ULSD than RBOB and/or WTI, which can create further asymmetry in buying and selling patterns and an opportunity for a trade. The ULSD futures curve remains steep, implying that near-term demand strength is dominating supply considerations, with traders cautious ahead of key refinery output reports.