Europe Diesel Crisis: Attacks Hit Saudi Supply as US Works to Fill Gap

U.S. Gulf Coast refiners are running flat out to replace lost Russian and Middle East barrels, sending diesel exports to Europe while US inventories stay low. Europe's diesel shortage stems from supply outages in Russia and the Middle East, including attacks on Saudi Arabia's East-West Pipeline and on the Red Sea port of Yanbu, which had been a large supplier of diesel to Europe. Alex Hodes, StoneX Director Energy Market Strategy, explains how Gulf Coast refiners are attempting to fill Europe's diesel gap, and why a potential U.S. ban on diesel exports would have a impact both for Europe fuel availability as well as for U.S. refiners. View his full report in the related video.