Europe’s Green Christmas: No Snow, No Problem, No Russian Gas Needed

Posted: January 20, 2023
Category: News Pulse

RP Weekly Recap | January 13-20


European distress over fuel shortages was at an all time high during the months leading up to the winter. With Russian natural gas a no-go, European countries stocked up on fuel from anywhere they could. Now that we are a month or so into the winter, those worries have been put to rest as much of Europe is experiencing their warmest winter in years. Meanwhile the U.S. has realized their refining capacity is limited and is working on overhauling older refineries to handle more production. In the meantime, fuel output is expected to decrease and prices for fuels such as gasoline and diesel are expected to increase until those refiners come back online.

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  • Up (-4) from last week for a total of 771
  • Up 31% from one year ago
  • Statistics courtesy of Baker Hughes


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