Winter Is Coming: Europe Faces Twin Diesel And NatGas Crunch
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Zero Hedge
ussanews.comWinter Is Coming: Europe Faces Twin Diesel And NatGas Crunch
Winter Is Coming: Europe Faces Twin Diesel And NatGas Crunch Samantha Dart, co-head of global commodities research at Goldman Sachs, began the week by telling Bloomberg TV that the global diesel-supply crunch is "what keeps her up at night." She followed up Wednesday with a client note warning that European natural gas storage levels are also lagging the seasonal average ahead of the winter heating period. Benchmark TTF futures have fallen 7% t…
Europe has set a new record for the volume of natural gas injected into underground storage, while the gap with last year's stock levels continues to grow. According to Gas Infrastructure Europe, August 4 saw the lowest volume of gas injected on such a day since 2012. In the first four days of August, the gap with stocks from the same period last year increased by around 400 million cubic meters. The gap thus reached 12.4 billion cubic meters. C…
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