France Faces Increasing Fuel Shortages Amid Industrial Action

Fuel shortages in several French regions have increased this week as strikes at refineries have entered a third week, forcing more than 80% of the country’s refining capacity offline according to Bloomberg estimates.

• About 17% of all fuel stations throughout the country were missing at least one product as of Monday night, France's petroleum association UFIP said. However, this number is likely to improve from Tuesday, as it falls lower on the weekend, UFIP added.
• About 29% of fuel stations in the Ile-de-France region were missing at least one product, the data showed.
• Two regions in the south of France were missing 28% and 24% respectively, the Brittany region was missing 29% and an eastern region was also missing 29%, the data showed.
• Strike action in France has been tightening supply of refined oil products such as diesel and gasoline and spreads between the prompt and second month ICE low-sulphur diesel contracts remained in backwardation at around $20.25/mt.
• Gasoil APR 23 up 1.5% at 780$/mt