# Oil Traders Jump Into Action as Europe Screams for Diesel Supply - TT

> Traders are chartering tankers to move millions of barrels of diesel, gasoil and jet fuel westward from Asia and the Middle East to Europe, after Europe's diesel price hit a record high. Weekly bookings for clean product shipments from the Middle East and India surged to 29 tankers carrying 1.68 million tons, more than double the year-to-date average.

- Date: 2022-03-11 · published 2022-03-11T12:00:00.000Z
- Category: logistics · region Europe · magnitude medium
- Page: https://feedsoft.ai/events/4725-oil-traders-jump-into-action-as-europe-screams-for-diesel-supply-tt
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Rerouting diesel cargoes toward Europe lengthens voyages and raises tanker freight rates, which adds to delivered fuel costs. The shift also signals that Europe is pulling supply from other regions, tightening global diesel balances.

## Read by commodity

- DIESEL: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2024-01-26 | [Europe’s Diesel Supply Chain Threatened by High Freight Costs - TT](https://feedsoft.ai/events/32308-europe-s-diesel-supply-chain-threatened-by-high-freight-costs-tt.md) | -2.4% | -3.8% |
| DIESEL | 2019-11-30 | [Diesel prices expected to increase due to environmental regulations - Supply Chain Council of European Union \| Scceu.org](https://feedsoft.ai/events/56258-diesel-prices-expected-to-increase-due-to-environmental-regulations-supply.md) | +2.1% | +6.5% |
| DIESEL | 2021-02-19 | [Traders rush to supply fuel to the U.S. as Texas freeze bites](https://feedsoft.ai/events/48823-traders-rush-to-supply-fuel-to-the-u-s-as-texas-freeze-bites.md) | +4.0% | -3.0% |
| DIESEL | 2017-09-14 | [Market Eye: Europe Fixes More Diesel for the US \| Energy Intelligence](https://feedsoft.ai/events/69120-market-eye-europe-fixes-more-diesel-for-the-us-energy-intelligence.md) | +4.1% | +2.8% |

## Sources

- ttnews.com: https://www.ttnews.com/articles/oil-traders-jump-action-europe-screams-diesel-supply

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