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OIL PRODUCTS: Germany Heating Oil Demand Surges as Prices Fall: Argus

OIL PRODUCTS
CEEMEAEurozoneEnergy BulletsGermanyBulletCommodities

German consumers have increased their heating oil purchases as prices dropped by nearly €2/100l nationwide, Argus said.

  • Many had delayed buying, anticipating lower prices, and were further motivated by colder weather following a mild January.
  • By Feb. 6, privately owned heating oil tanks were at their lowest since July, at just over 52%.
  • Diesel demand remained low, with volumes slightly down and imports largely unprofitable.
  • Despite production cuts in southern Germany, domestic supply has been meeting demand.
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German consumers have increased their heating oil purchases as prices dropped by nearly €2/100l nationwide, Argus said.

  • Many had delayed buying, anticipating lower prices, and were further motivated by colder weather following a mild January.
  • By Feb. 6, privately owned heating oil tanks were at their lowest since July, at just over 52%.
  • Diesel demand remained low, with volumes slightly down and imports largely unprofitable.
  • Despite production cuts in southern Germany, domestic supply has been meeting demand.