Asian fuel sellers are increasing their shipments of diesel to energy-starved Europe, benefiting from the premium European buyers are willing to pay for the fuel amid a deepening global and regional deficit. Global diesel inventories have declined precipitously since demand rebounded over the last two years, largely due to a decline in refinery capacity during the pandemic. The refinery workers’ strike in France certainly did not help matters in Europe specifically, adding to diesel supply woes, perhaps the most important of the oil derivatives as it fuels transport and agriculture. “East of Suez is sending everything they can ship… it’s just a question of how much China exports in November,” one unnamed trader told Reuters this week. The agency cited tracking data as showing that loadings of gasoil from China and South Korea to northwestern Europe this month could reach 289,000 tons, up from 137,500 tonnes in September. Yet […]