Free Trial

US Replacing Saudi as Europe’s Marginal Diesel Supplier

OIL PRODUCTS

The US has effectively replaced Saudi Arabia as the marginal supplier to Europe over the past year, Platts said in its Oil Markets Podcast.

  • Around 0.5m b/d of US diesel is currently headed to Europe, all the while ARA stock levels are at a near six-month low, Platts added.
  • The Suez Canal security issue has hampered Saudi flows to Europe, extending journey times and freight rates.
  • Meanwhile, Panama Canal congestion has kept US diesel in the Atlantic, rather than heading to certain parts of Latam.

To read the full story

Close

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.