Lloyd’s List: Medium Range Tankers Reap Rewards as US Gasoil Exports Rise

“US Exports of gasoil to Europe, the Caribbean and Latin America have risen 38% in a year after US refineries had a surplus of refined oil product, boosting employment for medium range product tankers, writes Hal Brown….The rise in gasoil exports is partly because midwestern US refineries had access to cheaper West Texas Intermediate crude oil, compared with the European benchmark Brent crude, according to the research department of Poten & Partners. “Cheaper US crude enabled US refineries to buy and distil more oil, generating a surplus of gasoil, reported Poten & Partners.”