Gasoline Glut in New York Has Traders Sending Cargoes Abroad
- More than two million barrels planned for shipments abroad
- Gasoline inventories broke record three weeks in a row
A customer puts fuel in his car at a gas station in Peoria, Illinois, U.S., on Wednesday, Sept. 11, 2013. Gasoline climbed in New York trading as crude advanced before talks between the U.S. and Russia over disposing of Syria’s chemical weapons and as U.S. jobless claims dropped.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
The biggest gasoline market in the U.S. is bursting at the seams.
Traders are lining up to export gasoline and diesel from New York Harbor, an area that normally relies on fuel imports from Europe and eastern Canada, shipping data compiled by Bloomberg show.