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Flotilla of Diesel Ships Heads to Europe Amid Energy Crisis

  • Asia-to-Europe flows set for five-month high, Vortexa predicts
  • Trade driven by energy-security concerns, slowdown in China
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A fleet of ships carrying diesel, one of the world’s most important fuels, is heading for European markets facing energy-security threats from high temperatures, soaring gas prices, and Russian disruption.

Five ships transporting close to 3 million barrels are poised to move from Asia to Europe so far in August, preliminary data from Vortexa show. That’s the most in five months on a barrel-per-day basis. Shipments from the Middle East to Europe are also set to expand.