# US diesel exports to Europe dip on plummeting refining output

> US diesel exports to Europe fell by almost half in February to 6.65 million barrels from 11.44 million in January, according to Kpler. The decline reflects a slump in US refining activity and longer Red Sea routings around the Cape of Good Hope. US diesel cracks briefly reached a four-month high above $48 a barrel.

- Date: 2024-02-26 · published 2024-02-26T12:00:00.000Z
- Category: logistics · region US · magnitude medium
- Page: https://feedsoft.ai/events/31851-us-diesel-exports-to-europe-dip-on-plummeting-refining-output
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Tighter diesel supply and higher shipping costs support diesel and freight prices that feed buyers pay. Europe's reliance on imported diesel adds upward pressure on global distillate markets.

## Read by commodity

- DIESEL: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DIESEL | 2022-04-05 | [Cost of U.S. diesel exports to Latin America rise on shortage \| Reuters](https://feedsoft.ai/events/42029-cost-of-u-s-diesel-exports-to-latin-america-rise-on-shortage-reuters.md) | -8.6% | +22.1% |
| DIESEL | 2023-03-20 | [European diesel tightens, crude weakens as French refinery outages linger](https://feedsoft.ai/events/37028-european-diesel-tightens-crude-weakens-as-french-refinery-outages-linger.md) | +0.8% | -2.0% |
| DIESEL | 2022-10-17 | [Atlantic Basin refining margins soar on refinery outages, tight diesel supply \| S&P Global](https://feedsoft.ai/events/10941-atlantic-basin-refining-margins-soar-on-refinery-outages-tight-diesel-supply-s.md) | -6.7% | -5.1% |
| DIESEL | 2017-07-31 | [European Diesel Jumps as Fire at Pernis Refinery Cuts Supply - Bloomberg](https://feedsoft.ai/events/70126-european-diesel-jumps-as-fire-at-pernis-refinery-cuts-supply-bloomberg.md) | +0.4% | -0.9% |
| DIESEL | 2024-02-07 | [US West Coast distillate prices jump on flare reports, export demand](https://feedsoft.ai/events/31858-us-west-coast-distillate-prices-jump-on-flare-reports-export-demand.md) | +5.2% | -2.8% |

## Sources

- reuters.com: https://www.reuters.com/business/energy/us-diesel-exports-europe-dip-plummeting-refining-output-2024-02-26/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.