The rise of U.S. shale oil is choking off a historic gasoline trade, dealing a blow to European refineries that for decades have relied on American drivers to buy their excess supplies. (Bloomberg) — The rise of U.S. shale oil is choking off a historic gasoline trade, dealing a blow to European refineries that for decades have relied on American drivers to buy their excess supplies. Over the past month, tankers shipping European gasoline to the world’s biggest consumer detoured to Venezuela and Caribbean islands. There’s even been a rare jump in shipments in the opposite direction. Imports from Europe fell to the lowest since November earlier this month and remain well below last year, according to customs data and ship-tracking. A surge in U.S. shale oil production, which is rich in gasoline, is a major contributor to the diminished flows because refineries are running the hardest in more […]