Diesel Exports to Europe Hit Record Pace as US Ships Skip Panama

US fuelmakers are sending diesel to Europe at the fastest pace ever as delays at the drought-stricken Panama Canal throttle trade to the west coast of South America.

As much as 437,000 barrels a day of diesel has moved from the US to Europe so far this month, more than double the rate in November and on track for the fastest pace since Kpler records began in 2017. All of the exports originated from the Gulf Coast.

Transatlantic exports are surging as increasingly tighter transit restrictions at the Panama Canal make shipments to countries including Peru and Chile lengthier and ...