Shipments of diesel from Europe into Europe have fallen to their lowest levels since 2022 in February to date, as Houthi attacks on ships in the Red Sea disrupt international trade, according to Bloomberg.

• The result of the curtailed flows is pushing cargoes towards Asia.
• Arrivals into Europe from India were just 18k b/d in H1 Feb, down 90% on the whole-month January average, according to Vortexa.
• “The economics to export east — Singapore region — were a lot better than those west,” Sparta Commodities’ Noel-Beswick said.
• Arrivals of Indian diesel into Asia, including Saudi Arabia and Bangladesh, has surged in February.

Source: Bloomberg