Diesel Crisis Eases With Slowdown In U.S. Manufacturing

U.S. manufacturing activity has been stumbling for most of this year, and with it, the outlook for fuel demand with a focus on diesel. Now, it appears this activity has reached a post-pandemic plateau. While not the best news in a world where growth still matters, the situation has a silver lining: the risk of a diesel shortage has shrunk.

A year ago, as the European Union prepared its sanctions on Russian oil and fuel exports, it ignited a race with U.S. diesel consumers that saw traders divert cargoes bound for Europe to send to the…