The impact of the Iran war continues to be strongly felt in the German market. Maritime traffic through the strait of Hormuz remains severely restricted, and there have been further attacks on energy infrastructure in the region. In Germany, nationwide prices for heating oil, diesel and gasoline rose sharply compared with the previous week, putting notable pressure on demand.
Buying interest for heating oil, diesel and gasoline remained low across Germany in the week ending 13 March. According to dealers, many consumers are postponing purchasing decisions in the hope that wholesale prices may ease again in the coming weeks.
Heating oil demand is particularly weak because of high price levels. The nationwide heating oil price increased by nearly $78/t. Many sellers also reported that a large number of customers stocked up at the beginning of the previous week over concerns about potential supply disruptions, and therefore see no immediate need to replenish volumes. Rising regional temperatures are putting further downward pressure on demand as heating requirements ease noticeably in many areas.
Diesel demand also remains subdued — average national prices increased by around $77.45/t. Wholesalers said that only agricultural buyers are currently active in the market, as they prepare for the spring season. Outside this segment, buying interest is generally weak.
The E5 gasoline market shows a similar pattern — many traders report that consumers and filling-station operators secured volumes in the week prior wherever possible and are not drawing further supplies for the time being. Persistent geopolitical tensions and the associated fears of crude supply disruptions have pushed gasoline prices higher as well, with E5 rising by around $78.39/t.
