Nearly 2 million barrels of Russian diesel are stranded at sea because no one wants to buy them

• As much as 1.9 million barrels of Russian diesel are in storage at sea, according to Kpler data cited by Bloomberg.
• That's the most since October 2020, when energy markets were still reeling from the COVID-19 pandemic.
• A warm winter and new sanctions have eased demand for the commodity.

As much as 1.9 million barrels of Russian diesel have been put into floating storage due to lack of buyers, according to Kpler data cited by Bloomberg.

That's the largest at-sea buildup since October 2020, when global energy markets were still reeling from the COVID-19 pandemic, which triggered a sudden collapse in demand.

A record number of Russian diesel cargoes were sailing last week without a destination, Bloomberg reported. 

The growing stockpile of unsold diesel comes amid an unseasonably warm winter that has reduced consumption of heating fuels.