Europe faces diesel shortages as Russian supply dwindles, energy traders warn

European diesel stockpiles are expected to fall to the lowest level since 2018 this month

About 500,000 tons of Russian diesel exports are at risk in March. 

Europe is facing the prospect of a shortage of diesel as flows from Russia dwindle in the aftermath of its invasion of Ukraine, senior executives at two trading houses said.

Europe’s leading diesel external supplier has seen its exports of crude oil and petroleum products slide by about 2m to 2.5m barrels a day since the invasion, Trafigura Group chief executive Jeremy Weir said at the Financial Times Commodities Global Summit.