Russian Diesel Stuck at Sea as Mild Temps Fend Off Energy Crisis
- Russian fuel in floating storage jumps to highest since 2020
- Cargoes have been accumulating off North African coast
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A pile-up of Russian diesel stored on ships suggests buyers are shunning the sanctioned fuel as an exceptionally warm winter saps demand.
As many as 1.9 million barrels of Russian diesel-type fuel is currently in floating storage, the most since October 2020, according to data from Kpler Inc. compiled by Bloomberg. The build-up, three weeks after EU sanctions took effect, indicates some cargoes loaded from Russian ports without buyers.