By the end of last year, hedge fund positions in diesel had fallen to a level normally associated with a sharp slowdown in economic growth if not an outright recession.Most middle distillate fuels such as diesel, gasoil and jet fuel are consumed in freight transport (ships, trucks, railroads and air cargo) as well as manufacturing and mining.Middle distillate consumption and prices are therefore more closely tied to the state of the economy than other refined fuels such as gasoline.