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Soaring US Diesel Exports Underscore Global Fuel Vulnerability

  • US diesel exports rose to five-year high in July: Vortexa
  • Demand to peak during harvest, heating season in coming months

A worldwide diesel supply crunch is making more of the world dependent on US fuel exports, a situation that could worsen heading into the winter. 

US diesel exports last month rose to 1.4 million barrels a day, a five-year high, according to data from oil analytics firm Vortexa compiled by Bloomberg. Europe is buying more US diesel as the continent tries to wean itself from Russia. Latin America has also stepped up imports, in part to replace lost volumes from Europe.