The World Is Buying American Diesel as Fast as Refiners Can Make It
- South America, Europe drawing more U.S. distillate cargoes
- Atlantic Coast refiners also getting a piece of the action
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The international market has a message for American refiners: Stay calm and keep turning crude into diesel.
While a global glut has pushed crude prices down to five-month lows, manufacturers of middle distillates can’t make enough to satisfy demand. A combination of seasonal events is giving refiners on both the Atlantic and Gulf coasts a chance to boost exports to Europe and South America.