Diesel shortage in Europe

https://www.reuters.com/business/energy/diesel-shortage-euro…

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As of yesterday, I heard Reuters was still partnering with Taas. If they still are I would look for other confirming reports.

As of yesterday, I heard Reuters was still partnering with Taas. If they still are I would look for other confirming reports.

Do you find a diesel shortage surprising? It would be surprising if there weren’t.

Europe Heading for a Diesel Shortage, Traders Say
www.ttnews.com/articles/europe-heading-diesel-shortage-trade…
Europe is facing the prospect of a shortage of diesel as flows from Russia dwindle in the aftermath of its invasion of Ukraine, senior executives at three trading houses said. Europe’s leading diesel external supplier has seen its exports of crude oil and petroleum products slide by about 2 million to 2.5 million barrels a day since the invasion, Trafigura Group CEO Jeremy Weir said at the Financial Times Commodities Global Summit on March 22.

“That’s affecting greatly the amount of product here in Europe,” Weir said at the event in Lausanne, Switzerland. “The diesel market is extremely tight. It’s going to get tighter,” he added, warning that it may even result in fuel stations running dry…

Supplies of the fuel are still flowing from Russian refineries to Europe but the trade is becoming more challenging. Shipping companies, banks and buyers are shying away from dealing with Russian energy products in what is being termed “self-sanctioning,” following the invasion.

DB2

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https://finance.yahoo.com/news/gas-prices-may-bad-now-184039…
Volatile oil prices are hurting every corner of the global economy, but experts warn that it’s nothing compared to the looming diesel shortage…

“Europe imports about half of its diesel from Russia and about half of its diesel from the Middle East,” Russell Hardy, CEO of energy trading company Vitol, said at the conference. “That systemic shortfall of diesel is there.”

Executives warned that extreme conditions caused by that shortage could lead to dwindling supply for the rest of the year, requiring fuel rationing from EU governments.

DB2

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