Germany refills strategic diesel reserves amid tight European supply
Germany’s oil stockpiling agency is refilling strategic diesel reserves via tender. The agency issued a tender for more than 760,000 barrels of diesel to address the tight European supply.
The diesel supply in Europe is constrained due to the fallout from the Iran conflict and a steep drop in Russian exports. The region is trying to lock in supply amid ongoing strikes on Iran and disrupted Hormuz transit.
Germany is also drafting a state gas reserve plan to guard against future energy shocks. The gas reserve purchases will be spread over several years, with first bookings not due until winter 2026/27.