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Why diesel tankers from Middle East, India go all the way to New York

Since the price decline, at least four other vessels initially bound for New York are now headed to Europe, according to sources

Reuters  |  NEW YORK/LONDON 

But that window may have already slammed shut, as diesel prices have retreated in tandem with this week's broad selloff among energy benchmarks. Since hitting a high of $2.1431/gallon on Jan. 26, diesel has dropped as much as 11 percent, and other tankers slated for New York have already been diverted elsewhere. As benchmark US diesel prices surged after a cold blast hit the US East Coast, at least six tankers carrying nearly 4 million barrels of diesel from the Middle East and India arrived in New York, according to traders and Thomson Reuters vessel tracking data. The ...

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First Published: Fri, February 09 2018. 10:05 IST