ULSD exports from the US Gulf Coast to Europe continue to trail their 2016 volumes. This is despite an increase in overall ULSD exports out of the region. Over the last 6 weeks, ULSD exports to Europe have dropped 21% year-over-year while total ULSD exports have increased 9%. Part of the drop in volumes is due to cargoes initially destined for Europe being diverted to other regions, including one 660,000 bbl cargo which was diverted from Europe this week.
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