Europe’s Diesel Stockpiles Set to Hit Record Low Without Russia

Inventories of diesel, the fuel that powers vast parts of the European economy, are forecast to plummet this winter as supplies from Russia are cut off.

The amount of diesel-type fuel stored in northwest Europe will sink to 210.4 million barrels in February, the lowest it has been since at least 2011, according to consultancy Wood Mackenzie Ltd. That’s the month that European Union sanctions on seaborne deliveries of refined petroleum products from Russia -- currently the region’s single biggest external diesel supplier -- come into play.