Weak Diesel Demand Has Traders Hunting for East Coast Storage

Tepid demand for diesel and other distillate products such as heating oil has had traders competing for storage tanks on the U.S. East Coast to wait out the current market weakness, Reuters reported on Tuesday, quoting data from storage broker The Tank Tiger.      Demand for distillate storage at New York Harbor has jumped to around 300,000 barrels in April, compared to no bidder interest in March, according to The Tank Tiger’s data that assesses interest in leasing storage tanks. A warmer winter in the U.S. has left more…