Shortages of US diesel, Price increases
Due to dwindling supply, the prices of diesel are continuously increasing as compared to petrol.
Diesel reserves in the US are getting dangerously low.
Middle Eastern cargo carrying diesel bound for Europe was recently reported to have diverted midway towards US shores.
The rise in prices is expected to continue for some more time and should benefit companies such as Suncor Energy and Valero Energy.
Suncor Energy: (NYSE: SU)
Valero Energy: (NYSE: VU)
Pioneer Natural Resources Co. (PXD)
Ovintiv Inc. (OVV)
Kinder Morgan Inc. (KMI)
According to Report, "
Only 25 days of fuel is left in the country's fuel bank"
Administrative sanctions may be imposed on the export of fuel, especially diesel.
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