Middle Distillates Market Situation: A Global, not only European Problem
The invasion of Ukraine by Russia is shaking energy markets across the globe, and crude oil and petroleum markets are no exemption. This article explores the impact of the conflict on oil markets both globally and at a European level. The main conclusion is that the scarcity of petroleum products, such as middle distillates, is concerning in Europe, but certainly it is not a European problem exclusively. Other geographies, such as the United States, are experiencing multi-decade high prices. This article sheds light on the fundamental-related factors, as well as on other elements that contribute to exacerbate the situation.