Wars Signal Tough Winter for Diesel

Reports indicate that the diesel shortage in global markets, which has worsened due to wars in the Middle East and Ukraine, threatens a harsh winter—especially in Europe, which relies heavily on imports. Diesel inventories in Europe have decreased by about 30% since March, with prices rising by 40% from their lows in June. Moreover, prices have increased even more than crude oil, raising concerns about significant inflation and high costs in transportation, industry, and heating. European and American refineries are moving to cut their diesel exports, while Asian refineries focus on meeting local demand, which puts additional pressure on market supplies and complicates the supply crisis. This situation is further aggravated by ongoing sanctions against Russia and the impact on global refining capacities.

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