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flag Christmas surge in global diesel demand strains supplies, especially in Europe reliant on imports.

flag Christmas triggers a global diesel stress test as holiday demand surges for freight, warehousing, and refrigeration, straining already low inventories. flag U.S. distillate supply holds near 4 million barrels per day, with stocks below historical winter levels, while Europe, deprived of Russian diesel, relies on long-haul imports from the U.S., Middle East, and India. flag Despite sufficient reported supply, tight logistics, high export volumes to Europe (1.1–1.3 million bpd), and inflexible contract-driven demand make the system vulnerable to disruptions. flag Refineries operate at over 90% capacity, reducing flexibility, and physical diesel premiums remain strong, signaling tight on-the-ground supply despite softer paper crack spreads.

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