Diesel Pinch Looms as World Seeks Relief From Pricey Gas
- Fuel stockpiles thin at key hubs in Europe, US and Asia
- Profits for making diesel poised to surge as demand increases
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The global diesel market looks set to get even tighter as power generators and industrial users seek relief from surging natural gas prices.
Consumers are seeking alternatives to gas after prices rallied to unprecedented levels as Russia’s invasion of Ukraine sparked an energy crisis in Europe. It’s also happening as global diesel stockpiles remain unusually low at a time inventories are typically expanding in preparation for a boost in consumption over winter.