U.S. Diesel Exports Hit Record High as Global Supply Crunch Deepens. Article from August 6

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US distillate exports surged to a record last week as global supplies tightened. Disruptions across the Gulf area and various surrounding maritime chokepoints, as well as Ukrainian one-way attack drone strikes that have paralyzed portions of Russia's energy infrastructure, have been a major boon for US refiners and export terminals along the Gulf of America.

To begin the week, Samantha Dart, co-head of global commodities research at Goldman Sachs, told Bloomberg TV, "The situation in Russia is really one thing that worries us a lot."

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As global supplies dwindle, US energy exporters on the Gulf of America emerged as the winners, shipping a record 1.9 million barrels to overseas customers last week.

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https://oilprice.com/Energy/Energy-General/US-Diesel-Exports-Hit-Record-High-as-Global-Supply-Crunch-Deepens.html

Refineries finally got the crack spread they wanted back in July of 2025.
Now will they ramp up or keep things the same and milk the spread?

This is from last summer:

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A historic diesel crunch is unfolding across the Atlantic, and traders are scrambling. In the U.S., diesel stockpiles have dropped to their lowest seasonal level since 1996. Over in Europe, futures spreads are widening fast with the prompt premium in northwest Europe spiking to $44 per ton, a level not seen since late 2022 outside of expiry dates. Diesel's share of total oil product output hit just 31.4% last month, according to Energy Aspects well below typical seasonal averages. That's setting off alarm bells in a market that relies on diesel for everything from trucking to heating to industrial machinery.

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Refinery disruptions and OPEC+ production cuts are compounding the squeeze. Saudi Arabia and Russia key suppliers of heavier crude better suited for diesel production have both trimmed output. Meanwhile, Kazakhstan's boost in light Tengiz crude is skewing the global slate lighter, limiting diesel yields. Cracks need to rise to incentivize refiners to make more diesel, said Sparta Commodities' James Noel-Beswick. That's exactly what's happening. Refining margins are running hot, and the Amsterdam-Rotterdam-Antwerp hub is flashing tightness, with physical diesel premiums hitting levels that suggest restocking has fallen far behind.

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https://finance.yahoo.com/news/diesel-panic-why-fuel-markets-195604371.html