Repsol: Parts Of Europe Are Running Out Of Diesel

The diesel crisis in Europe is heating up, with parts of Europe starting to run out of diesel, Repsol Chief Executive Officer Josu Jon Imaz said on Thursday’s earnings call. “We are running out of middle distillates in some European countries,” Imaz explained, adding that high diesel prices could be on the horizon. Europe—a net importer of diesel, jet fuel, and heating oil—has struggled to maintain adequate inventories this year as high natural gas prices caused some users to switch to diesel, boosting demand, while…