Freezing temperatures in North America have made it profitable to ship diesel and heating oil from Europe to the U.S. East Coast, according to Energy Aspects Ltd., KBC Energy Economics and FGE. This window of opportunity, also known as arbitrage, will last until the cold weather subsides, analysts from the three consultants said Monday. Temperatures will probably remain below normal levels in the U.S. and Canada for the next two weeks, BNP Paribas SA said in a report. “The whole thing will be short lived,” Ehsan Ul-Haq, senior analyst at KBC, said by phone from Walton-on-Thames, England. “Whenever temperatures start rising, we will see less and less demand,” for European fuels. Northwest Europe currently has a surplus of diesel and heating oil, with independently held stocks of the fuel at the highest in at least seven years, according to researcher PJK International BV. Cold weather has hindered […]