Europe Faces Systemic Diesel Supply Crunch

Europe risks being exposed to a “systemic” deficit of diesel supply that could worsen and even lead to rationing of fuel, the top executives of the world’s largest independent oil traders said on Tuesday. Following the sanctions against Russia over its invasion of Ukraine, as well as buyers’ “self-sanctioning,” the global markets could lose around 3 million barrels per day (bpd) of Russian crude and products supply, with European diesel supply a big concern, the executives said at the FT Commodities Global Summit…