# Oil tankers are making bizarre trips around the world as diesel glut hits global market

> Bloomberg reports that tankers hauling diesel are making unusual voyages around the world because of a global diesel glut. Some cargoes were rerouted several times, and Europe's demand has been sharply cut by the coronavirus. Vessels from Asia are taking the longer route around South Africa.

- Date: 2020-07-30 · published 2020-07-30T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/52308-oil-tankers-are-making-bizarre-trips-around-the-world-as-diesel-glut-hits
- Commodities: [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

A global diesel glut pushes fuel prices lower, which eases freight and transport costs for feed supply chains. Longer voyages absorb shipping capacity and offset some of that benefit.

## Read by commodity

- DIESEL: bearish ▼

## Sources

- theprint.in: https://theprint.in/economy/oil-tankers-are-making-bizarre-trips-around-the-world-as-diesel-glut-hits-global-market/470871/

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