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IPFS News Link • Germany

German Oil Refiner Observes "Run" On Diesel & Heating Oil, Halts Deliveries

• Zero Hedge

The latest sign Europe's energy problems are worsening is that Austrian oil and gas firm OMV AG halted crude product deliveries from storage facilities in Germany amid a "run" on supplies, Bloomberg reported. 

OMV Germany said two storage facilities in the southern part of the country "are observing a current run on heating oil and ... this is possibly due to crisis-driven market shortages and thus excessive speculation and stockpiling."

"In order to secure supplies in the short and medium term, loading will now be temporarily suspended until the Burghausen refinery has resumed production," OMV said in an emailed response, adding Burghausen and Feldkirchen's storage facilities will restart deliveries on Aug. 15.