Marathon Expands Trading Desk as EU’s Russia-Fuel Sanctions Near

Marathon Petroleum Corp, the largest fuelmaker in the US, is opening a small office in London, according to people familiar with the matter.

The office’s focus will be on trading diesel-type fuel, possibly including jet fuel, the people said. There is currently no plan for crude oil.

Marathon’s decision was likely driven, at least in part, by upcoming European Union sanctions on Russia that will all but cut the continent off from its single biggest external diesel supplier. The US refiner regularly sells oil products for export, including from its Garyville and Galveston Bay refineries on the Gulf Coast, ...