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A Dirty Fuel Is in High Demand as Europe’s Diesel Crisis Worsens

  • Exports from Asia to Europe near three-year high in September
  • Refiners seek to take advantage of spiking premium to cash in
Diseal is unavailable as customers queue for fuel at a TotalEnergies SE gas station in Paris, on Oct .7. 

Diseal is unavailable as customers queue for fuel at a TotalEnergies SE gas station in Paris, on Oct .7. 

Photographer: Nathan Laine/Bloomberg

Diesel may not be glamorous but it is increasingly prized, with refiners in Asia and the Middle East stepping up shipments of the vital industrial fuel to Europe as the region grapples with a shortage.

Exports from Asia swelled to near a three-year high in September of 306,000 barrels a day, according to Vortexa Ltd. data. The region’s reliance on Asian and Middle Eastern supplies is likely to continue as inventories remain low with winter approaching, said Serena Huang, lead Asia analyst. Flows of diesel from processors in the Middle East are also expected to surge this month.