Europe is scrambling to buy diesel fuel from Russia before a ban on imports comes into force in early February, but the frantic stockpiling is unlikely to prevent a new price shock for truckers, drivers and businesses
In the first two weeks of January, European countries snapped up almost 8 million barrels of Russian diesel, according to energy data provider Vortexa, roughly on par with imports this time last year before Russia invaded Ukraine. Imports in the fourth quarter of 2022 were up nearly 19% on the same period the previous year. Since Russia’s invasion in February last year, the European Union has made a huge effort to wean itself off Moscow’s oil and natural gas supplies.
Higher prices The EU ban will tighten the global market for diesel, Williams said, unless Russia can successfully divert its cargoes to Latin America and Africa, regions which typically import from the United States. That would free up US barrels to be sent to Europe, plugging the gap left by Moscow, he said. But importing diesel from suppliers further afield, including the United States and Saudi Arabia, will push up freight costs, feeding into higher consumer prices, he said.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Deadliest Russian attacks on Ukrainian civilians since February 2022Death toll in Russia's strike in Dnipro rises to 40, more than 30 other civilians remain unaccounted. Here is an overview of some of the deadliest attacks on Ukrainian civilians over the last 11 months
Leer más »
Factbox: Europe rushes to stock up on diesel ahead of Russian banEurope is set to ban imports of Russian oil products on Feb. 5 in a move that is already causing massive shifts in global diesel trading.
Leer más »
Analysis: Europe boosts Russian diesel buying ahead of ban set to rock marketEuropean traders are rushing to fill tanks with Russian diesel as the clock runs down on a Feb. 5 European ban expected to tighten supplies, redraw global shipping routes and increase price volatility.
Leer más »
BTS’s Jimin Reported To Make Solo Debut In February + BIGHIT MUSIC Briefly CommentsBTS's Jimin Reported To Make Solo Debut In February + BIGHIT MUSIC Briefly Comments
Leer más »
Prison Tycoon: Under New Management Set For February ReleaseAt long last, after a long wait and not a lot of informaiton, Prison Tycoon: Under New Management has a release date this year.
Leer más »