U.S. waterborne diesel exports from the U.S. Gulf Coast increased to 1.04 million barrels per day so far this month, according to Vortexa, an oil analytics firm. Current diesel exports are on pace for their highest level since August 2019. This has reduced U.S. diesel stocks to their lowest seasonally-adjusted level in eight years.
Last week, two diesel cargoes were shipped from New York to Europe, a rare move. Europe has been a big buyer of diesel as they replace Russian diesel. Latin America has also increased its diesel purchases.
