EU in for another winter shock

Via RT

EU in for another winter shock – Reuters

The European Union is heading into winter with seasonally low levels of diesel in storage tanks, Reuters reported on Friday, warning of major implications for the continent’s industries and drivers amid looming sanctions on Russian crude oil and refined product supplies.

The latest data from Wood Mackenzie shows the region’s stockpiles of road diesel, heating oil and other diesel-type fuel are set to dwindle this November to the lowest levels on record in data that goes back to the start of 2011.

According to a Reuters report, current prices trade at a premium to prices for future deliveries, which makes it uneconomical for traders to put diesel into storage and book a profit. “No one in their right mind would put diesel into tanks at those levels,” an unnamed European trader told the outlet.

The situation is deteriorating as the market is already tight due to refinery outages in Austria, which along with Germany and Switzerland is looking to build heating oil stocks ahead of winter.

Meanwhile, surging natural gas prices, which are encouraging a switch to oil products for power generation could also tighten the market further, FGE Energy warns.

The International Energy Agency on Thursday raised its forecast for oil demand growth for this year by 380,000 barrels per day (bpd) to 2.1 million bpd citing the gas-to-oil switch.

Reuters pointed out, citing data from energy analytics firm Vortexa, that Europe continues to rely heavily on Russia to satisfy its diesel demand. Statistics show that 60% of the region’s seaborne diesel imports originated from Russia last month.

And with no evidence that companies are stockpiling ahead of sanctions, “traders expect Europe to be in for a winter shock,” the media outlet wrote. It quoted another European trader as saying “Who knows what is going to happen [at the] back end of this year, early next – looks like it will be carnage for a bit.”

The European Union plans to stop buying all seaborne Russian crude oil from early December and will ban all refined products from the country two months later.

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hardscrabble farmer

Stories, always stories.

This is being done to punish the masses who didn’t fall completely in line with the original launch of The Great Reset.

Everything else is fabulist nattering.

Cedartown Mark

Nattering Nabobs of Negativism.

Anonymous
Anonymous

3, 2, 1….”And NOBODY could have predicted this/SEEN this coming”

credit
credit

as they sing in S. Africa – “keel de wight peepo”

flash
flash

Little people have to make the big sacrifices in times of war. It’s just how the muh communist capitalism works .

Stucky

“The European Union is heading into winter with seasonally low levels of diesel in storage tanks ….. major implications for the continent’s industries and drivers amid looming sanctions on Russian crude oil and refined product supplies.”

File this story under your “No Shit Sherlock” tab. I mean, we’ve only known about this for several months now. RT … a web site I no longer visit … is scraping the bottom of the barrel looking for stories.

Harrington Richardson: Gimme Sachwerte!
Harrington Richardson: Gimme Sachwerte!

I guess the real question is why do the Eurotrash do nothing to help themselves if this has been known for months, or why have their overlords done nothing except to shut down agriculture and fail to procure energy stockpiles or drill for their own?
The fancy fuques will jet around to conferences and enjoy all the finer things while peons are told to eat bugs, get more quilts and bugger off in general.
The peons must suffer for the elites’ vision of a free Ukraine laundering their crimes and cash 24/7.

Anonymous
Anonymous

Globalist elite are moving fast to destroy small business across the entire world. The 1% global elite want full control of everything and no competition. The 78,000 new IRS agents are going to wipe out small (white owned) business here in the US. <<<<>>>> They want you to own NOTHING! They believe you are destroying their world. We the people here in the US do not want the IRS to grow by 78,000 business destroying terrorist, it is driven by the globalist that run and control our government. We the people never voted for POS Joe. He was installed by globalist criminals. High energy prices will wipe out all small business in Europe and the Globalist elite can buy all their assets for nothing. <<<>>>. The Globalist don’t care about people and in fact want billions of people DEAD so they can enjoy a better world with fewer of us maggots eating up their resources.. The food shortages are being created intentionally. That fact alone should tell you they want people dead.

Harrington Richardson: Gimme Sachwerte!
Harrington Richardson: Gimme Sachwerte!

87,000. As if 78,000 wouldn’t be bad enough.

B_MC
B_MC

comment image

Aunt Acid
Aunt Acid

Such a deal, mesdamned and monsewers. Mais non?

Makron; a real fucking evil WEPH tool that one can believe in.

Harrington Richardson: Gimme Sachwerte!
Harrington Richardson: Gimme Sachwerte!

This is with natgas currently about $8.80 per million btu in the US which is 300% higher than when The Donald left office. Predictions I have seen for Germany have it at $20 per million btu when it gets cold.
I have not included any figures for after the Demonfuks taxes on natgas kick in if this bill from hell makes it through the courts. It’s being challenged on the basis of proxy voting being unconstitutional. There are some Demonfuks who haven’t been there in months spending their campaign money on travel and the high life letting Nancy vote for them via proxy.

Iska Waran
Iska Waran

Don’t worry, Europe. The turbine for Nordstream 1 is almost ready to re-install. Any day now … And I’m sure no other turbines will go on the fritz in the coming weeks/months, so you’ll be able to fill up your storage of natural gas while you punish those damn Russkies for not tolerating the American plan to make Ukraine a de-facto NATO-CIA hotspot, oust Putin and carve up Russia.

Fucking idiots.

Harrington Richardson: Gimme Sachwerte!
Harrington Richardson: Gimme Sachwerte!

Looks like commodity futures are used to give everybody a major fucking in diesel as well as Gold and Silver. Who would have thought?

overthecliff
overthecliff

Whay all the concern? Free, abundant and renewable energy will take up the slack. The science is settled.

Anonymous
Anonymous

When they start to freeze, the jigs will leave.

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