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OIL PRODUCTS
New York diesel exports have stepped up since Russia banned fuel exports last week – shipping out three cargoes carrying more than a combined 1mn bbls over that time according to Kpler.
- New York Harbour diesel exports average 41,000 bpd so far this month, the highest monthly rate since June 2020.
- New York is typically short diesel and relies on Europe for the grade but has been a net exporter since July based on Kpler figures.
- Two of the latest cargoes have headed for Europe while the third went to Brazil – another country impacted by the lack of Russian diesel flows. Brazil has been a big buyer of Russian diesel since the EU ban on Russian oil products Feb 5.
- The US Gulf Coast has seen monthly diesel exports slide this month due to ongoing maintenance work.
Source: Bloomberg/Kpler
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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