The world’s appetite for U.S. diesel is falling, leaving stockpiles of the fuel at their highest level since early October.
The increased supply, combined with swelling inventory of gasoline, threatens to stifle the oil industry recovery that began with the arrival of vaccines last month.
U.S. exports of diesel, mostly to Latin America, last week fell 518,000 barrels a day to 714,000 for the lowest level since September 2017, data from the Energy Information Administration show. The drop is the equivalent of well more than one fewer full cargo going out each day, with that fuel staying in storage instead.
