Diesel jumped to a two-month high in New York as cold weather reduced supply from area refineries and boosted heating demand. Futures gained as much as 6.2 percent as below-normal temperatures curtailed operations at plants including Phillips 66’s Bayway site in New Jersey. Ice also delayed fuel shipments to New York Harbor, according to the Coast Guard. Front-month futures’ premium over the second-month contract jumped to a record. New York is the delivery point for U.S. diesel and gasoline futures and the hub for supplies delivered into the northeast. The increase in prices has made it profitable to ship diesel and heating oil from Europe to the East Coast, according to Energy Aspects Ltd., KBC Energy Economics and FGE. “The weather is impacting both refinery operations and the ability to deliver imported diesel cargoes,” said Andy Lipow, president of Lipow Oil Associates LLC, an energy consulting firm […]