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Signs of a rush for fuel supplies in Germany as the Rhine dries up

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An oil refiner in Germany said it is seeing a “run” on heating oil and diesel supplies, the latest sign of the pressure the country’s fuel market is under.

MV Deutschland, which operates a refinery in the south of the country, “is observing a current run on heating oil and diesel‘ the company said in a statement.

“This may be due to crisis-related market shortages and thus excessive speculation and stockpiling.”

Southern Germany, Austria and Switzerland are grappling with restricted supplies as the Rhine – a channel for supplies from the North Sea – is on the verge of being effectively closed to trade as scorching weather makes it too shallow to pass .

But even before that, barges have to drive with part loads.

OMV has stopped loading fuel onto trucks at two warehouses while its refinery in Burghausen near Munich returns from routine maintenance. The hiring will last until about August 15th.

“In order to secure the supply in the short and medium term, loading will now be temporarily suspended until the Burghausen refinery has resumed production,” said an email reply to questions.

Southern Germany, Austria and Switzerland have been facing fuel shortages for weeks after supplies from refineries in the region were disrupted.

OMV said last week it had increased imports of fuels via the Danube tenfold.

There has also been a shift towards using oil to generate electricity, with Munich using diesel-like fuel for this purpose as Russia conducts less natural gas.

https://www.independent.ie/business/world/signs-of-a-run-on-fuel-supplies-in-germany-as-rhine-dries-up-41890774.html Signs of a rush for fuel supplies in Germany as the Rhine dries up

Fry Electronics Team

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