German oil refinery reports stockpiling of heating oil and diesel

Southern Germany, Austria, and Switzerland have been experiencing fuel shortages for weeks due to supply disruptions from refineries.

BY MARKETWIRE, TRANSLATED BY CHRISTOFFER ØSTERGAARD

Shortages of heating oil and diesel have led to a run on supplies, informs oil refinery OMV Germany.

This is the latest indication of the pressure that the nation’s fuel market is laboring under, writes Bloomberg News.

”This is possibly due to crisis-driven market shortages thus excessive speculation and stockpiling,” reports OMV Germany, which operates a refinery in southern Germany.

This region, along with both Austria and Switzerland, have been experiencing fuel shortages for weeks due to supply disruptions from refineries. This is due to the Rhein river, a crucial waterway from the North Sea, being on the verge of closing due to low water levels.

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