Europe: Natural Gas Crunch Drives Diesel Gains

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Europe’s energy crisis is starting to spread to its fuel markets, with some refiners extending maintenance shutdowns and others cutting hydrocracking capacity to manage a spike in hydrogen feedstock costs. The supply crunch comes as regional demand for road fuels continues to rise post-pandemic and amid worries that sky-high natural gas prices could also trigger fuel switching to gasoil and fuel oil. German heating oil demand is already high as consumers stockpile ahead of a new carbon tax coming into force next year.

Diesel/Gasoil, Jet Fuel, Gasoline, Refining, Oil Spot Markets, Oil Products
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