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Middle East War Drives Surge in U.S. Fuel Storage Demand

U.S. fuel storage bids tripled this month as the Middle East war disrupts global supplies. Traders are positioning for a surge in diesel and jet fuel exports.

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Demand for distillate fuel storage in the United States has more than tripled since the escalation of conflict involving Israel and Iran. Traders are increasingly betting that rising prices in Europe and Asia will drive a significant surge in American exports of diesel, jet fuel, and other distillates. According to storage broker Tank Tiger, weekly bids for storage on its platform have climbed 242% this month, reaching 1.3 million barrels compared to February.

An aerial view of petroleum storage tanks in Carson, California, used for holding crude oil and refined products like diesel. REUTERS/Bing Guan/File Photo
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