Asia's economic growth boosts diesel demand in the region

Seoul

OIL investors rattled by the threat of US output can find some cheer from diesel demand in Asia.

Strong consumption of the fuel - used to power everything from lorries to ships and factories - underpinned crude's bull run last year, a rally that is now being threatened by surging American production. Still, while the risk of a crude glut looms, refineries being shut for spring-season maintenance is set to squeeze diesel supplies in the Asian market at a time when demand is being boosted by healthy economic growth.