Plummeting US Diesel Exports Bound For Europe Send Prices Higher

Analysts have observed a notable decrease in the supply of American diesel to the European market this month. The supply nearly halved to 6.65 million barrels, down from 11.44 million barrels in January, a record low, not seen since August 2017. The shortage is exacerbated by low US refinery output and the ongoing crisis in the Middle East.