Marathon Petroleum Corp, the largest fuelmaker in the US, is opening a small office in London, according to people familiar with the matter.
The office’s focus will be on trading diesel-type fuel, possibly including jet fuel, the people said. There is currently no plan for crude oil.
The EU’s sanctions on Russia -- which ban seaborne imports of refined petroleum from early next year -- are set to redraw the global map of trade flows for diesel and at least some other oil products. Europe, already in the midst of an energy crunch as winter approaches, will need to replace Russian supplies with barrels from other regions.
The US regularly exports oil products to Europe, though its current supplies to the continent are far smaller than those from Russia or the Middle East.
Marathon did not respond to a request for comment.