U.S. Diesel Exports Hit Record High as Domestic Stockpiles Slide

Diesel fuel exports from the United States hit an all-time high last week, driven by shortages of the fuel in other parts of the world as a result of the energy crisis in the Middle East. According to the Energy Information Administration, the United States exported diesel fuel at a rate of 1.9 million barrels daily last week, breaking the previous record, set in spring. However, the EIA data also showed that diesel fuel production fell last week—as did inventories of the fuel. They now sit 12% lower than the five-year average. Most of the…