Transport Recovery Rekindles Threat of Diesel Shortage

A pick-up in freight activity around the world is tightening fuel markers and could cause a shortage of diesel that was barely avoided last year due to the slump in industry activity. Moody’s predicted this week that the price of diesel in the United States alone would add more than $1 from pre-pandemic levels this year, hitting $4.50 per gallon. In Europe, fuel imports from India jumped threefold in February, indicating stronger demand. Yet supply has become tricky. In the U.S., distillate inventories remain below the…