{"id":63225,"date":"2022-08-04T10:49:11","date_gmt":"2022-08-04T15:49:11","guid":{"rendered":"https:\/\/olduvai.ca\/?p=63225"},"modified":"2022-08-04T10:49:12","modified_gmt":"2022-08-04T15:49:12","slug":"german-oil-refiner-observes-run-on-diesel-heating-oil-halts-deliveries","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=63225","title":{"rendered":"German Oil Refiner Observes &#8220;Run&#8221; On Diesel &#038; Heating Oil, Halts Deliveries"},"content":{"rendered":"<h3><a href=\"https:\/\/www.zerohedge.com\/commodities\/german-oil-refiner-observes-run-diesel-halts-deliveries-two-storage-facilities\"><span style=\"color: #222222;\">German Oil Refiner Observes &#8220;Run&#8221; On Diesel &amp; Heating Oil, Halts Deliveries<\/span><\/a><\/h3>\n<div class=\"NodeContent_mainContent__t4rGu\">\n<div class=\"NodeContent_body__6iJOI NodeBody_container__hI8PI\">\n<p>The latest sign Europe&#8217;s energy problems are worsening is that Austrian oil and gas firm OMV AG halted crude product deliveries from storage facilities in Germany amid a &#8220;run&#8221; on supplies,\u00a0<a href=\"https:\/\/www.bloomberg.com\/\">Bloomberg<\/a>\u00a0reported.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/EG-Group-to-Acquire-OMV-Filling-Station-Business-in-Germany.jpg?itok=Zdhw3wFr\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/EG-Group-to-Acquire-OMV-Filling-Station-Business-in-Germany.jpg?itok=Zdhw3wFr\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/EG-Group-to-Acquire-OMV-Filling-Station-Business-in-Germany.jpg?itok=Zdhw3wFr\" alt=\"\" width=\"500\" height=\"281\" data-entity-type=\"file\" data-entity-uuid=\"0e77a5e4-cca5-4671-8e32-58f4bbe48739\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>OMV Germany said two storage facilities in the southern part of the country\u00a0<em><strong>&#8220;are observing a current run on heating oil and &#8230; this is possibly due to crisis-driven market shortages and thus excessive speculation and stockpiling.&#8221;<\/strong><\/em><\/p>\n<blockquote><p><em>&#8220;In order to secure supplies in the short and medium term,\u00a0<strong>loading will now be temporarily suspended<\/strong>\u00a0until the Burghausen refinery has resumed production,&#8221; OMV said in an emailed response, adding Burghausen and Feldkirchen&#8217;s storage facilities will restart deliveries on Aug. 15.<\/em><\/p><\/blockquote>\n<p>A combination of issues has led to diesel and heating oil in southern Germany, Austria, and Switzerland.<\/p>\n<ul>\n<li>First is the energy disruption due to Western sanctions on Russia.<\/li>\n<li>Second OMV&#8217;s Burghausen refinery maintenance.<\/li>\n<li>And third,\u00a0<a href=\"https:\/\/www.zerohedge.com\/commodities\/germanys-uniper-warns-irregular-operation-power-plant-rhine-river-dries\">falling water levels<\/a>\u00a0on the Rhine River have reduced deliveries of crude product shipments from the North Sea.<\/li>\n<\/ul>\n<p>The panic hoarding of diesel and heating fuel likely comes from utilities who have\u00a0<strong>had to switch the type of power generation from natural gas<\/strong>\u00a0to other crude products due to\u00a0<a href=\"https:\/\/www.zerohedge.com\/energy\/european-gas-jumps-russia-reduces-nord-stream-flows-further-one-fifth-capacity\">capacity constraints<\/a>\u00a0on the Nord Stream 1.<\/p>\n<p><strong>German power prices have soared to a new record of more than 400 euros per megawatt-hour\u00a0<\/strong>on the European Energy Exchange on Thursday on the prospects of a worsening energy crisis.<\/p>\n<p><a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/unnamed-2_9.png?itok=fQJWyE7n\" data-image-external-href=\"\" data-image-href=\"\/s3\/files\/inline-images\/unnamed-2_9.png?itok=fQJWyE7n\" data-link-option=\"0\"><picture><img loading=\"lazy\" decoding=\"async\" class=\"inline-images image-style-inline-images\" src=\"https:\/\/assets.zerohedge.com\/s3fs-public\/styles\/inline_image_mobile\/public\/inline-images\/unnamed-2_9.png?itok=fQJWyE7n\" alt=\"\" width=\"500\" height=\"231\" data-entity-type=\"file\" data-entity-uuid=\"890ebde1-73fb-40f2-976c-cde53b36cc9c\" data-responsive-image-style=\"inline_images\" \/><\/picture><\/a><\/p>\n<p>With Brent crude prices tumbling below $100 a barrel, it appears the paper oil market is\u00a0<strong>out of touch with the tightness reality of physical markets.\u00a0<\/strong><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>German Oil Refiner Observes &#8220;Run&#8221; On Diesel &amp; Heating Oil, Halts Deliveries The latest sign Europe&#8217;s energy problems are worsening is that Austrian oil and gas firm OMV AG halted crude product deliveries from storage facilities in Germany amid a &#8220;run&#8221; on supplies,\u00a0Bloomberg\u00a0reported. OMV Germany said two storage facilities in the southern part of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[83,14047,281,359,31931,33061,33062,4318],"class_list":["post-63225","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-bloomberg","tag-diesel","tag-europe","tag-germany","tag-heating-oil","tag-oil-refiner","tag-omv-ag","tag-zerohedge"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=63225"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63225\/revisions"}],"predecessor-version":[{"id":63226,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/63225\/revisions\/63226"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=63225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=63225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=63225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}