Diesel Exports From U.S. Rising as Plant Work Winds Down
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Exports of diesel fuel from the U.S. Gulf Coast are poised to climb as refineries returning from maintenance boost production, widening the price gap between the Gulf and Europe while freight rates hover near a six-month low.
Plants are ramping up after planned work in the first quarter that took 1.13 million barrels a day of capacity offline, 45 percent above the five-year average, according to IIR Energy. The rate to book a vessel from the Gulf to Europe dropped 33 percent to a 2012 low on March 20, Baltic Exchange data show.