IPFS News Link • Oil
US Gulf Coast Exports Record Amount Of Fuel As East Coast Supplies Sink
• https://www.zerohedge.com by Tyler DurdenBloomberg reports Gulf Coast refiners exported 2.09 million barrels a day of gasoline, diesel, and jet fuel in April, the highest level since oil analytics firm Vortexa began tracking trade data in 2016.
The majority of the exports went to Latin America.
Export demand will likely stay strong through the next few months as countries in South America continue to burn diesel fuel for power generation during the Southern Hemisphere's winter season, when hydropower supply falls. Mexico, the largest overseas buyer of U.S. gasoline by far, will likely draw more from the U.S. Gulf Coast as high crude prices derailed the country's plans to produce more fuel at home. -Bloomberg