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Europe Is Set to Start Winter Seriously Short of Diesel Fuel

  • Market structure indicates tightness, discouraging storage
  • EU set to ban seaborne imports from Russia in February
A customer fills up with diesel at a gas station in Rome, Italy.

A customer fills up with diesel at a gas station in Rome, Italy.

Photographer: Alessia Pierdomenico/Bloomberg
Updated on

Northwest Europe is forecast to begin a perilous winter with historically low amounts of diesel, a fuel that powers vast swaths of the economy.

The region’s stockpiles of road diesel, heating oil and other diesel-type fuel are set to shrivel this November to the lowest level in data that goes back to the start of 2011, according to Wood Mackenzie Ltd. That means there’s a smaller-than-usual supply cushion as the continent braces for a potentially severe winter energy crisis.