Global diesel and distillate fuel stocks have fallen to dangerous levels. The U.S. has been exporting a lot of diesel to troubled Europe, but now things are changing. U.S. buyers are snapping up diesel cargos originally planned for Europe as the crisis deepens. While the OPEC+ agreement to cut crude oil production and the U.S. reaction to it dominate headlines, a much more immediate crisis is getting worse by the day. Global diesel and other distillate fuel stocks have been on the decline for a while now, and there is no reversal of this trend in sight. Demand, on the other hand, has been growing, leading to a widening shortage. The situation has become so grave that U.S. buyers have begun snapping up diesel cargos originally sailing for Europe. Reuters reported earlier this month that at least three tankers carrying diesel from the Middle East had changed their course […]