Fuel Origin

Events / Import ban

EU import ban on seaborne Russian crude oil (in force 5 December 2022)

Dates
2022-12-05 → no end date recorded
Dated to
the day
Status
Ongoing
Scope
European Union

What the sources said

Sixth package of EU sanctions, adopted 3 June 2022 (Council Regulation (EU) 2022/879 amending Regulation (EU) No 833/2014). European Commission, 3 June 2022: "a complete import ban on all Russian seaborne crude oil and petroleum products"; "For seaborne crude oil, spot market transactions and execution of existing contracts will be permitted for six months after entry into force, while for petroleum products, these will be permitted for eight months." Eurostat, 19 June 2023: "The ban on imports of seaborne crude oil entered into force on 5 December 2022, while the ban on petroleum products took effect on 5 February 2023." Temporary derogations apply to pipeline crude for certain member states and to Bulgaria and Croatia, so reported imports from Russia do not fall to zero. This row is a timeline marker only; it makes no statement about prices.

IEA, EIA, European Commission, European Council and national legislators (cited per row)Official
Retrieved 2026-09-23 07:22 UTCRevision 1
Source documents (3)
CountryCountryGermanyFranceNetherlandsPolandFinlandEstoniaAustriaBelgiumBulgariaCroatiaCyprusCzechiaDenmarkGreeceHungaryIrelandItalyLatviaLithuaniaLuxembourgMaltaPortugalRomaniaSlovakiaSloveniaSpainSweden
FuelFuelDiesel (automotive gas oil)Petrol (Euro-super 95)Both fuels

Choosing a fuel keeps that fuel's series and the channels shared by every fuel - the crude benchmark, FX, crude imports and Hormuz exposure. It drops only the other fuel's series.

The event window

What each series was worth from -30 to 90 days around the event date, how far that is from the same series' level at the event date, and how big that move is against the series' own normal variation.

Germany, all fuels in this run. 22 series can be drawn; 7 cannot be seen at all and are shown as labelled empty panels below.

260 published readings, 26 offsets with nothing published within one period, and 91 offsets on series we cannot see at all. Every one of them is on this page.

Europe Brent spot FOB

Unit: $ per barrelPublished: dailyCalculatedOfficial
T0−30−14T0+14+30+60+90102.472.42022-11-04: 99.53 $ per barrel, used for offsets −302022-11-21: 88.44 $ per barrel, used for offsets −142022-11-28: 83.50 $ per barrel, used for offsets −72022-12-02: 86.54 $ per barrel, used for offsets −3, −1same print as T0 — 2022-12-05, 83.36 $ per barrel, used for offsets T02022-12-06: 79.92 $ per barrel, used for offsets +12022-12-08: 76.02 $ per barrel, used for offsets +32022-12-12: 78.00 $ per barrel, used for offsets +72022-12-19: 81.66 $ per barrel, used for offsets +142023-01-04: 75.31 $ per barrel, used for offsets +302023-02-03: 78.85 $ per barrel, used for offsets +602023-03-03: 85.74 $ per barrel, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for Europe Brent spot FOB: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-11-0499.53+16.170+19.40%+4.30
−142022-11-2188.44+5.080+6.09%+1.35
−72022-11-2883.50+0.140+0.17%+0.04
−32022-12-0286.54+3.180+3.81%+0.85
−12022-12-0286.54+3.180+3.81%+0.85
T02022-12-05same print as T083.360.0000.00%0.00
+12022-12-0679.92-3.440-4.13%-0.91
+32022-12-0876.02-7.340-8.81%-1.95
+72022-12-1278.00-5.360-6.43%-1.42
+142022-12-1981.66-1.700-2.04%-0.45
+302023-01-0475.31-8.050-9.66%-2.14
+602023-02-0378.85-4.510-5.41%-1.20
+902023-03-0385.74+2.380+2.86%+0.63

One volatility unit for this series is 4.51%, the standard deviation of its own day-on-day percentage changes over the three years before the event (760 changes). It is not a significance test.

reported crude oil imports, all origins

Unit: tonnesPublished: monthlyCalculatedOfficial
T0−30−14T0+14+30+60+907,182,6685,573,8432022-11-01: 6,846,216 tonnes, used for offsets −30, −14, −7same print as T0 — 2022-12-01, 7,026,975 tonnes, used for offsets −3, −1, T0, +1, +3, +7, +142023-01-01: 6,447,135 tonnes, used for offsets +302023-02-01: 5,729,536 tonnes, used for offsets +602023-03-01: 6,247,404 tonnes, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for reported crude oil imports, all origins: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-11-016,846,216-180,759-2.57%-0.30
−142022-11-016,846,216-180,759-2.57%-0.30
−72022-11-016,846,216-180,759-2.57%-0.30
−32022-12-01same print as T07,026,9750.0000.00%0.00
−12022-12-01same print as T07,026,9750.0000.00%0.00
T02022-12-01same print as T07,026,9750.0000.00%0.00
+12022-12-01same print as T07,026,9750.0000.00%0.00
+32022-12-01same print as T07,026,9750.0000.00%0.00
+72022-12-01same print as T07,026,9750.0000.00%0.00
+142022-12-01same print as T07,026,9750.0000.00%0.00
+302023-01-016,447,135-579,840-8.25%-0.95
+602023-02-015,729,536-1,297,439-18.46%-2.12
+902023-03-016,247,404-779,571-11.09%-1.27

One volatility unit for this series is 8.71%, the standard deviation of its own month-on-month percentage changes over the three years before the event (35 changes). It is not a significance test.

crude-only expected pre-tax price: the T0 bulletin-week price plus what the stored pass-through curves say crude alone would have done since

Unit: € per litrePublished: weeklyCalculatedMedium
T0−30−14T0+14+30+60+901.1541.0572022-10-31: 1.134 € per litre, used for offsets −302022-11-21: 1.120 € per litre, used for offsets −142022-11-28: 1.099 € per litre, used for offsets −7, −3, −1same print as T0 — 2022-12-05, 1.088 € per litre, used for offsets T0, +1, +32022-12-12: 1.066 € per litre, used for offsets +72022-12-19: 1.078 € per litre, used for offsets +142023-01-02: 1.084 € per litre, used for offsets +302023-01-30: 1.126 € per litre, used for offsets +602023-02-27: 1.144 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for crude-only expected pre-tax price: the T0 bulletin-week price plus what the stored pass-through curves say crude alone would have done since: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-10-311.134+0.047+4.28%+0.06
−142022-11-211.120+0.033+3.01%+0.04
−72022-11-281.099+0.012+1.09%+0.01
−32022-11-281.099+0.012+1.09%+0.01
−12022-11-281.099+0.012+1.09%+0.01
T02022-12-05same print as T01.0880.0000.00%0.00
+12022-12-05same print as T01.0880.0000.00%0.00
+32022-12-05same print as T01.0880.0000.00%0.00
+72022-12-121.066-0.022-1.99%-0.03
+142022-12-191.078-0.009-0.85%-0.01
+302023-01-021.084-0.004-0.36%-0.00
+602023-01-301.126+0.038+3.52%+0.05
+902023-02-271.144+0.057+5.22%+0.07

One volatility unit for this series is 74.41%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

crude-only expected pre-tax price: the T0 bulletin-week price plus what the stored pass-through curves say crude alone would have done since

Unit: € per litrePublished: weeklyCalculatedMedium
T0−30−14T0+14+30+60+900.9400.8222022-10-31: 0.9288 € per litre, used for offsets −302022-11-21: 0.8985 € per litre, used for offsets −142022-11-28: 0.8749 € per litre, used for offsets −7, −3, −1same print as T0 — 2022-12-05, 0.8590 € per litre, used for offsets T0, +1, +32022-12-12: 0.8335 € per litre, used for offsets +72022-12-19: 0.8418 € per litre, used for offsets +142023-01-02: 0.8425 € per litre, used for offsets +302023-01-30: 0.8627 € per litre, used for offsets +602023-02-27: 0.8649 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for crude-only expected pre-tax price: the T0 bulletin-week price plus what the stored pass-through curves say crude alone would have done since: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-10-310.9288+0.070+8.13%+2.08
−142022-11-210.8985+0.040+4.60%+1.18
−72022-11-280.8749+0.016+1.86%+0.47
−32022-11-280.8749+0.016+1.86%+0.47
−12022-11-280.8749+0.016+1.86%+0.47
T02022-12-05same print as T00.85900.0000.00%0.00
+12022-12-05same print as T00.85900.0000.00%0.00
+32022-12-05same print as T00.85900.0000.00%0.00
+72022-12-120.8335-0.025-2.97%-0.76
+142022-12-190.8418-0.017-2.00%-0.51
+302023-01-020.8425-0.016-1.91%-0.49
+602023-01-300.8627+0.004+0.44%+0.11
+902023-02-270.8649+0.006+0.70%+0.18

One volatility unit for this series is 3.91%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

ECB euro foreign exchange reference rate

Unit: US dollars per euroPublished: dailyCalculatedOfficial
T0−30−14T0+14+30+60+901.1060.9742022-11-04: 0.9872 US dollars per euro, used for offsets −302022-11-21: 1.025 US dollars per euro, used for offsets −142022-11-28: 1.046 US dollars per euro, used for offsets −72022-12-02: 1.054 US dollars per euro, used for offsets −3, −1same print as T0 — 2022-12-05, 1.059 US dollars per euro, used for offsets T02022-12-06: 1.052 US dollars per euro, used for offsets +12022-12-08: 1.052 US dollars per euro, used for offsets +32022-12-12: 1.056 US dollars per euro, used for offsets +72022-12-19: 1.060 US dollars per euro, used for offsets +142023-01-04: 1.060 US dollars per euro, used for offsets +302023-02-03: 1.094 US dollars per euro, used for offsets +602023-03-03: 1.062 US dollars per euro, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for ECB euro foreign exchange reference rate: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-11-040.9872-0.072-6.75%-13.43
−142022-11-211.025-0.034-3.22%-6.40
−72022-11-281.046-0.012-1.17%-2.33
−32022-12-021.054-0.005-0.46%-0.92
−12022-12-021.054-0.005-0.46%-0.92
T02022-12-05same print as T01.0590.0000.00%0.00
+12022-12-061.052-0.007-0.67%-1.33
+32022-12-081.052-0.007-0.64%-1.28
+72022-12-121.056-0.002-0.24%-0.47
+142022-12-191.060+0.001+0.10%+0.21
+302023-01-041.060+0.001+0.11%+0.23
+602023-02-031.094+0.035+3.31%+6.57
+902023-03-031.062+0.003+0.26%+0.53

One volatility unit for this series is 0.50%, the standard deviation of its own day-on-day percentage changes over the three years before the event (770 changes). It is not a significance test.

direct crude Hormuz exposure D1

Unit: % of imported tonnesPublished: monthlyUnknownUnknown
T0−30−14T0+14+30+60+9013.200.002022-11-01: 5.005 to 9.421 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2022-12-01: 3.130 to 11.39 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-01-01: 1.111 to 9.289 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-02-01: 2.390 to 9.708 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-03-01: 7.253 to 11.90 % of imported tonnes. No point estimate is published, so no midpoint is drawn.

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits. The shaded band is the admissible range. No midpoint is drawn, because no point estimate is published.

Window table for direct crude Hormuz exposure D1: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-11-015.005–9.421not publishednot publishednot published
−142022-11-015.005–9.421not publishednot publishednot published
−72022-11-015.005–9.421not publishednot publishednot published
−32022-12-013.130–11.39not publishednot publishednot published
−12022-12-013.130–11.39not publishednot publishednot published
T02022-12-013.130–11.39not publishednot publishednot published
+12022-12-013.130–11.39not publishednot publishednot published
+32022-12-013.130–11.39not publishednot publishednot published
+72022-12-013.130–11.39not publishednot publishednot published
+142022-12-013.130–11.39not publishednot publishednot published
+302023-01-011.111–9.289not publishednot publishednot published
+602023-02-012.390–9.708not publishednot publishednot published
+902023-03-017.253–11.90not publishednot publishednot published

No normal volatility is published for this series, so no change is expressed in volatility units. That is a missing input, not a zero.

direct refined-product Hormuz exposure D2

Unit: % of imported tonnesPublished: monthlyUnknownUnknown
T0−30−14T0+14+30+60+903.9710.0002022-11-01: 0 to 0.0308 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2022-12-01: 0 to 0.9237 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-01-01: 1.264 to 2.783 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-02-01: 0 to 3.546 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2023-03-01: 2.247 to 3.110 % of imported tonnes. No point estimate is published, so no midpoint is drawn.

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits. The shaded band is the admissible range. No midpoint is drawn, because no point estimate is published.

Window table for direct refined-product Hormuz exposure D2: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-11-010–0.0308not publishednot publishednot published
−142022-11-010–0.0308not publishednot publishednot published
−72022-11-010–0.0308not publishednot publishednot published
−32022-12-010–0.9237not publishednot publishednot published
−12022-12-010–0.9237not publishednot publishednot published
T02022-12-010–0.9237not publishednot publishednot published
+12022-12-010–0.9237not publishednot publishednot published
+32022-12-010–0.9237not publishednot publishednot published
+72022-12-010–0.9237not publishednot publishednot published
+142022-12-010–0.9237not publishednot publishednot published
+302023-01-011.264–2.783not publishednot publishednot published
+602023-02-010–3.546not publishednot publishednot published
+902023-03-012.247–3.110not publishednot publishednot published

No normal volatility is published for this series, so no change is expressed in volatility units. That is a missing input, not a zero.

inventory exposure D7: published days of emergency stock cover, carried through

Unit: days of coverPublished: monthlyCalculatedOfficial
T0−30−14T0+14+30+60+90105.8103.52022-11-01: 105.0 days of cover, used for offsets −30, −14, −7same print as T0 — 2022-12-01, 105.0 days of cover, used for offsets −3, −1, T0, +1, +3, +7, +142023-01-01: 105.6 days of cover, used for offsets +302023-02-01: 105.5 days of cover, used for offsets +602023-03-01: 103.7 days of cover, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for inventory exposure D7: published days of emergency stock cover, carried through: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-11-01105.00.0000.00%0.00
−142022-11-01105.00.0000.00%0.00
−72022-11-01105.00.0000.00%0.00
−32022-12-01same print as T0105.00.0000.00%0.00
−12022-12-01same print as T0105.00.0000.00%0.00
T02022-12-01same print as T0105.00.0000.00%0.00
+12022-12-01same print as T0105.00.0000.00%0.00
+32022-12-01same print as T0105.00.0000.00%0.00
+72022-12-01same print as T0105.00.0000.00%0.00
+142022-12-01same print as T0105.00.0000.00%0.00
+302023-01-01105.6+0.590+0.56%+0.22
+602023-02-01105.5+0.455+0.43%+0.17
+902023-03-01103.7-1.270-1.21%-0.47

One volatility unit for this series is 2.57%, the standard deviation of its own month-on-month percentage changes over the three years before the event (35 changes). It is not a significance test.

crude cost per litre: Brent in EUR/L averaged over the bulletin week (refinery yield not modelled)

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+900.6280.4422022-10-31: 0.6104 € per litre, used for offsets −302022-11-21: 0.5263 € per litre, used for offsets −142022-11-28: 0.5123 € per litre, used for offsets −7, −3, −1same print as T0 — 2022-12-05, 0.4687 € per litre, used for offsets T0, +1, +32022-12-12: 0.4798 € per litre, used for offsets +72022-12-19: 0.4779 € per litre, used for offsets +142023-01-02: 0.4598 € per litre, used for offsets +302023-01-30: 0.4720 € per litre, used for offsets +602023-02-27: 0.4954 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for crude cost per litre: Brent in EUR/L averaged over the bulletin week (refinery yield not modelled): value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-10-310.6104+0.142+30.24%+3.72
−142022-11-210.5263+0.058+12.30%+1.51
−72022-11-280.5123+0.044+9.31%+1.15
−32022-11-280.5123+0.044+9.31%+1.15
−12022-11-280.5123+0.044+9.31%+1.15
T02022-12-05same print as T00.46870.0000.00%0.00
+12022-12-05same print as T00.46870.0000.00%0.00
+32022-12-05same print as T00.46870.0000.00%0.00
+72022-12-120.4798+0.011+2.38%+0.29
+142022-12-190.4779+0.009+1.98%+0.24
+302023-01-020.4598-0.009-1.89%-0.23
+602023-01-300.4720+0.003+0.71%+0.09
+902023-02-270.4954+0.027+5.69%+0.70

One volatility unit for this series is 8.13%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

crude cost per litre: Brent in EUR/L averaged over the bulletin week (refinery yield not modelled)

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+900.6280.4422022-10-31: 0.6104 € per litre, used for offsets −302022-11-21: 0.5263 € per litre, used for offsets −142022-11-28: 0.5123 € per litre, used for offsets −7, −3, −1same print as T0 — 2022-12-05, 0.4687 € per litre, used for offsets T0, +1, +32022-12-12: 0.4798 € per litre, used for offsets +72022-12-19: 0.4779 € per litre, used for offsets +142023-01-02: 0.4598 € per litre, used for offsets +302023-01-30: 0.4720 € per litre, used for offsets +602023-02-27: 0.4954 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for crude cost per litre: Brent in EUR/L averaged over the bulletin week (refinery yield not modelled): value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-10-310.6104+0.142+30.24%+3.72
−142022-11-210.5263+0.058+12.30%+1.51
−72022-11-280.5123+0.044+9.31%+1.15
−32022-11-280.5123+0.044+9.31%+1.15
−12022-11-280.5123+0.044+9.31%+1.15
T02022-12-05same print as T00.46870.0000.00%0.00
+12022-12-05same print as T00.46870.0000.00%0.00
+32022-12-05same print as T00.46870.0000.00%0.00
+72022-12-120.4798+0.011+2.38%+0.29
+142022-12-190.4779+0.009+1.98%+0.24
+302023-01-020.4598-0.009-1.89%-0.23
+602023-01-300.4720+0.003+0.71%+0.09
+902023-02-270.4954+0.027+5.69%+0.70

One volatility unit for this series is 8.13%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

national total oil stocks (Eurostat, commercial holders), with the published days of cover alongside

Unit: tonnesPublished: monthlyCalculatedOfficial
T0−30−14T0+14+30+60+9034,279,52231,714,1362022-11-01: 32,432,826 tonnes, used for offsets −30, −14, −7same print as T0 — 2022-12-01, 32,861,479 tonnes, used for offsets −3, −1, T0, +1, +3, +7, +142023-01-01: 34,031,259 tonnes, used for offsets +302023-02-01: 33,356,929 tonnes, used for offsets +602023-03-01: 31,962,399 tonnes, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for national total oil stocks (Eurostat, commercial holders), with the published days of cover alongside: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-11-0132,432,826-428,653-1.30%-0.91
−142022-11-0132,432,826-428,653-1.30%-0.91
−72022-11-0132,432,826-428,653-1.30%-0.91
−32022-12-01same print as T032,861,4790.0000.00%0.00
−12022-12-01same print as T032,861,4790.0000.00%0.00
T02022-12-01same print as T032,861,4790.0000.00%0.00
+12022-12-01same print as T032,861,4790.0000.00%0.00
+32022-12-01same print as T032,861,4790.0000.00%0.00
+72022-12-01same print as T032,861,4790.0000.00%0.00
+142022-12-01same print as T032,861,4790.0000.00%0.00
+302023-01-0134,031,259+1,169,780+3.56%+2.49
+602023-02-0133,356,929+495,450+1.51%+1.06
+902023-03-0131,962,399-899,080-2.74%-1.92

One volatility unit for this series is 1.43%, the standard deviation of its own month-on-month percentage changes over the three years before the event (35 changes). It is not a significance test.

not explained by crude: actual pre-tax change since T0 minus the crude-only expected change. Never attributed

Unit: € per litrePublished: weeklyCalculatedMedium
T0−30−14T0+14+30+60+900.236-0.2792022-10-31: 0.1863 € per litre, used for offsets −302022-11-21: 0.0152 € per litre, used for offsets −142022-11-28: 0.0050 € per litre, used for offsets −7, −3, −1same print as T0 — 2022-12-05, 0 € per litre, used for offsets T0, +1, +32022-12-12: -0.0447 € per litre, used for offsets +72022-12-19: -0.0185 € per litre, used for offsets +142023-01-02: -0.0742 € per litre, used for offsets +302023-01-30: -0.1155 € per litre, used for offsets +602023-02-27: -0.2289 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for not explained by crude: actual pre-tax change since T0 minus the crude-only expected change. Never attributed: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-10-310.1863+0.186not publishednot published
−142022-11-210.0152+0.015not publishednot published
−72022-11-280.0050+0.005not publishednot published
−32022-11-280.0050+0.005not publishednot published
−12022-11-280.0050+0.005not publishednot published
T02022-12-05same print as T000.000not publishednot published
+12022-12-05same print as T000.000not publishednot published
+32022-12-05same print as T000.000not publishednot published
+72022-12-12-0.0447-0.045not publishednot published
+142022-12-19-0.0185-0.018not publishednot published
+302023-01-02-0.0742-0.074not publishednot published
+602023-01-30-0.1155-0.116not publishednot published
+902023-02-27-0.2289-0.229not publishednot published

No normal volatility is published for this series, so no change is expressed in volatility units. That is a missing input, not a zero.

not explained by crude: actual pre-tax change since T0 minus the crude-only expected change. Never attributed

Unit: € per litrePublished: weeklyCalculatedMedium
T0−30−14T0+14+30+60+900.071-0.1302022-10-31: 0.0512 € per litre, used for offsets −302022-11-21: 0.0059 € per litre, used for offsets −142022-11-28: -0.0017 € per litre, used for offsets −7, −3, −1same print as T0 — 2022-12-05, 0 € per litre, used for offsets T0, +1, +32022-12-12: -0.0459 € per litre, used for offsets +72022-12-19: -0.0408 € per litre, used for offsets +142023-01-02: -0.1108 € per litre, used for offsets +302023-01-30: -0.0352 € per litre, used for offsets +602023-02-27: -0.0601 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for not explained by crude: actual pre-tax change since T0 minus the crude-only expected change. Never attributed: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-10-310.0512+0.051not publishednot published
−142022-11-210.0059+0.006not publishednot published
−72022-11-28-0.0017-0.002not publishednot published
−32022-11-28-0.0017-0.002not publishednot published
−12022-11-28-0.0017-0.002not publishednot published
T02022-12-05same print as T000.000not publishednot published
+12022-12-05same print as T000.000not publishednot published
+32022-12-05same print as T000.000not publishednot published
+72022-12-12-0.0459-0.046not publishednot published
+142022-12-19-0.0408-0.041not publishednot published
+302023-01-02-0.1108-0.111not publishednot published
+602023-01-30-0.0352-0.035not publishednot published
+902023-02-27-0.0601-0.060not publishednot published

No normal volatility is published for this series, so no change is expressed in volatility units. That is a missing input, not a zero.

Weekly Oil Bulletin price with taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+902.1781.6912022-10-31: 2.131 € per litre, used for offsets −302022-11-21: 1.911 € per litre, used for offsets −142022-11-28: 1.874 € per litre, used for offsets −7, −3, −1same print as T0 — 2022-12-05, 1.854 € per litre, used for offsets T0, +1, +32022-12-12: 1.775 € per litre, used for offsets +72022-12-19: 1.821 € per litre, used for offsets +142023-01-02: 1.850 € per litre, used for offsets +302023-01-30: 1.851 € per litre, used for offsets +602023-02-27: 1.738 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for Weekly Oil Bulletin price with taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-10-312.131+0.277+14.94%+5.54
−142022-11-211.911+0.057+3.07%+1.14
−72022-11-281.874+0.020+1.08%+0.40
−32022-11-281.874+0.020+1.08%+0.40
−12022-11-281.874+0.020+1.08%+0.40
T02022-12-05same print as T01.8540.0000.00%0.00
+12022-12-05same print as T01.8540.0000.00%0.00
+32022-12-05same print as T01.8540.0000.00%0.00
+72022-12-121.775-0.079-4.26%-1.58
+142022-12-191.821-0.033-1.78%-0.66
+302023-01-021.850-0.004-0.22%-0.08
+602023-01-301.851-0.003-0.16%-0.06
+902023-02-271.738-0.116-6.26%-2.32

One volatility unit for this series is 2.70%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

Weekly Oil Bulletin price with taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+901.9721.6892022-10-31: 1.945 € per litre, used for offsets −302022-11-21: 1.855 € per litre, used for offsets −142022-11-28: 1.818 € per litre, used for offsets −7, −3, −1same print as T0 — 2022-12-05, 1.801 € per litre, used for offsets T0, +1, +32022-12-12: 1.716 € per litre, used for offsets +72022-12-19: 1.732 € per litre, used for offsets +142023-01-02: 1.731 € per litre, used for offsets +302023-01-30: 1.845 € per litre, used for offsets +602023-02-27: 1.818 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for Weekly Oil Bulletin price with taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-10-311.945+0.144+8.00%+3.35
−142022-11-211.855+0.054+3.00%+1.26
−72022-11-281.818+0.017+0.94%+0.40
−32022-11-281.818+0.017+0.94%+0.40
−12022-11-281.818+0.017+0.94%+0.40
T02022-12-05same print as T01.8010.0000.00%0.00
+12022-12-05same print as T01.8010.0000.00%0.00
+32022-12-05same print as T01.8010.0000.00%0.00
+72022-12-121.716-0.085-4.72%-1.98
+142022-12-191.732-0.069-3.83%-1.61
+302023-01-021.731-0.070-3.89%-1.63
+602023-01-301.845+0.044+2.44%+1.02
+902023-02-271.818+0.017+0.94%+0.40

One volatility unit for this series is 2.39%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

Weekly Oil Bulletin price without taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+901.3690.8672022-10-31: 1.320 € per litre, used for offsets −302022-11-21: 1.135 € per litre, used for offsets −142022-11-28: 1.104 € per litre, used for offsets −7, −3, −1same print as T0 — 2022-12-05, 1.088 € per litre, used for offsets T0, +1, +32022-12-12: 1.021 € per litre, used for offsets +72022-12-19: 1.060 € per litre, used for offsets +142023-01-02: 1.010 € per litre, used for offsets +302023-01-30: 1.010 € per litre, used for offsets +602023-02-27: 0.9154 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for Weekly Oil Bulletin price without taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-10-311.320+0.233+21.40%+5.27
−142022-11-211.135+0.048+4.40%+1.09
−72022-11-281.104+0.017+1.55%+0.38
−32022-11-281.104+0.017+1.55%+0.38
−12022-11-281.104+0.017+1.55%+0.38
T02022-12-05same print as T01.0880.0000.00%0.00
+12022-12-05same print as T01.0880.0000.00%0.00
+32022-12-05same print as T01.0880.0000.00%0.00
+72022-12-121.021-0.066-6.10%-1.50
+142022-12-191.060-0.028-2.55%-0.63
+302023-01-021.010-0.078-7.18%-1.77
+602023-01-301.010-0.077-7.10%-1.75
+902023-02-270.9154-0.172-15.83%-3.90

One volatility unit for this series is 4.06%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

Weekly Oil Bulletin price without taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+901.0100.7022022-10-31: 0.9800 € per litre, used for offsets −302022-11-21: 0.9043 € per litre, used for offsets −142022-11-28: 0.8732 € per litre, used for offsets −7, −3, −1same print as T0 — 2022-12-05, 0.8590 € per litre, used for offsets T0, +1, +32022-12-12: 0.7875 € per litre, used for offsets +72022-12-19: 0.8010 € per litre, used for offsets +142023-01-02: 0.7317 € per litre, used for offsets +302023-01-30: 0.8275 € per litre, used for offsets +602023-02-27: 0.8048 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for Weekly Oil Bulletin price without taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-10-310.9800+0.121+14.09%+3.58
−142022-11-210.9043+0.045+5.28%+1.34
−72022-11-280.8732+0.014+1.66%+0.42
−32022-11-280.8732+0.014+1.66%+0.42
−12022-11-280.8732+0.014+1.66%+0.42
T02022-12-05same print as T00.85900.0000.00%0.00
+12022-12-05same print as T00.85900.0000.00%0.00
+32022-12-05same print as T00.85900.0000.00%0.00
+72022-12-120.7875-0.071-8.32%-2.12
+142022-12-190.8010-0.058-6.75%-1.72
+302023-01-020.7317-0.127-14.81%-3.77
+602023-01-300.8275-0.031-3.66%-0.93
+902023-02-270.8048-0.054-6.30%-1.60

One volatility unit for this series is 3.93%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

total tax per litre: price with taxes minus price without taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+900.8510.7432022-10-31: 0.8106 € per litre, used for offsets −302022-11-21: 0.7755 € per litre, used for offsets −142022-11-28: 0.7696 € per litre, used for offsets −7, −3, −1same print as T0 — 2022-12-05, 0.7664 € per litre, used for offsets T0, +1, +32022-12-12: 0.7538 € per litre, used for offsets +72022-12-19: 0.7612 € per litre, used for offsets +142023-01-02: 0.8405 € per litre, used for offsets +302023-01-30: 0.8406 € per litre, used for offsets +602023-02-27: 0.8226 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for total tax per litre: price with taxes minus price without taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-10-310.8106+0.044+5.77%+2.12
−142022-11-210.7755+0.009+1.19%+0.44
−72022-11-280.7696+0.003+0.42%+0.15
−32022-11-280.7696+0.003+0.42%+0.15
−12022-11-280.7696+0.003+0.42%+0.15
T02022-12-05same print as T00.76640.0000.00%0.00
+12022-12-05same print as T00.76640.0000.00%0.00
+32022-12-05same print as T00.76640.0000.00%0.00
+72022-12-120.7538-0.013-1.65%-0.60
+142022-12-190.7612-0.005-0.69%-0.25
+302023-01-020.8405+0.074+9.66%+3.55
+602023-01-300.8406+0.074+9.68%+3.55
+902023-02-270.8226+0.056+7.33%+2.69

One volatility unit for this series is 2.72%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

total tax per litre: price with taxes minus price without taxes

Unit: € per litrePublished: weeklyCalculatedOfficial
T0−30−14T0+14+30+60+901.0280.9182022-10-31: 0.9651 € per litre, used for offsets −302022-11-21: 0.9507 € per litre, used for offsets −142022-11-28: 0.9448 € per litre, used for offsets −7, −3, −1same print as T0 — 2022-12-05, 0.9421 € per litre, used for offsets T0, +1, +32022-12-12: 0.9285 € per litre, used for offsets +72022-12-19: 0.9310 € per litre, used for offsets +142023-01-02: 0.9993 € per litre, used for offsets +302023-01-30: 1.017 € per litre, used for offsets +602023-02-27: 1.013 € per litre, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for total tax per litre: price with taxes minus price without taxes: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-10-310.9651+0.023+2.44%+0.48
−142022-11-210.9507+0.009+0.92%+0.18
−72022-11-280.9448+0.003+0.29%+0.06
−32022-11-280.9448+0.003+0.29%+0.06
−12022-11-280.9448+0.003+0.29%+0.06
T02022-12-05same print as T00.94210.0000.00%0.00
+12022-12-05same print as T00.94210.0000.00%0.00
+32022-12-05same print as T00.94210.0000.00%0.00
+72022-12-120.9285-0.014-1.44%-0.29
+142022-12-190.9310-0.011-1.17%-0.23
+302023-01-020.9993+0.057+6.08%+1.20
+602023-01-301.017+0.075+8.01%+1.59
+902023-02-271.013+0.071+7.55%+1.50

One volatility unit for this series is 5.05%, the standard deviation of its own week-on-week percentage changes over the three years before the event (148 changes). It is not a significance test.

US proxy - not a European price: US diesel spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).

Unit: $ per barrelPublished: dailyCalculatedLow
T0−30−14T0+14+30+60+90109.929.12022-11-04: 102.1 $ per barrel, used for offsets −302022-11-21: 61.92 $ per barrel, used for offsets −142022-11-28: 50.19 $ per barrel, used for offsets −72022-12-02: 47.86 $ per barrel, used for offsets −3, −1same print as T0 — 2022-12-05, 43.40 $ per barrel, used for offsets T02022-12-06: 42.43 $ per barrel, used for offsets +12022-12-08: 43.18 $ per barrel, used for offsets +32022-12-12: 45.31 $ per barrel, used for offsets +72022-12-19: 47.36 $ per barrel, used for offsets +142023-01-04: 52.92 $ per barrel, used for offsets +302023-02-03: 39.25 $ per barrel, used for offsets +602023-03-03: 36.90 $ per barrel, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for US proxy - not a European price: US diesel spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-11-04102.1+58.716+135.30%+13.75
−142022-11-2161.92+18.524+42.69%+4.34
−72022-11-2850.19+6.790+15.65%+1.59
−32022-12-0247.86+4.464+10.29%+1.05
−12022-12-0247.86+4.464+10.29%+1.05
T02022-12-05same print as T043.400.0000.00%0.00
+12022-12-0642.43-0.970-2.24%-0.23
+32022-12-0843.18-0.220-0.51%-0.05
+72022-12-1245.31+1.916+4.42%+0.45
+142022-12-1947.36+3.968+9.14%+0.93
+302023-01-0452.92+9.520+21.94%+2.23
+602023-02-0339.25-4.142-9.54%-0.97
+902023-03-0336.90-6.496-14.97%-1.52

One volatility unit for this series is 9.84%, the standard deviation of its own day-on-day percentage changes over the three years before the event (737 changes). It is not a significance test.

US proxy - not a European price: US gasoline spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).

Unit: $ per barrelPublished: dailyCalculatedLow
T0−30−14T0+14+30+60+9038.9011.122022-11-04: 36.21 $ per barrel, used for offsets −302022-11-21: 25.46 $ per barrel, used for offsets −142022-11-28: 21.75 $ per barrel, used for offsets −72022-12-02: 19.76 $ per barrel, used for offsets −3, −1same print as T0 — 2022-12-05, 19.67 $ per barrel, used for offsets T02022-12-06: 20.42 $ per barrel, used for offsets +12022-12-08: 14.66 $ per barrel, used for offsets +32022-12-12: 13.81 $ per barrel, used for offsets +72022-12-19: 13.89 $ per barrel, used for offsets +142023-01-04: 25.20 $ per barrel, used for offsets +302023-02-03: 24.34 $ per barrel, used for offsets +602023-03-03: 25.60 $ per barrel, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for US proxy - not a European price: US gasoline spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-11-0436.21+16.548+84.15%+0.46
−142022-11-2125.46+5.798+29.48%+0.16
−72022-11-2821.75+2.086+10.61%+0.06
−32022-12-0219.76+0.096+0.49%+0.00
−12022-12-0219.76+0.096+0.49%+0.00
T02022-12-05same print as T019.670.0000.00%0.00
+12022-12-0620.42+0.752+3.82%+0.02
+32022-12-0814.66-5.008-25.47%-0.14
+72022-12-1213.81-5.854-29.77%-0.16
+142022-12-1913.89-5.776-29.37%-0.16
+302023-01-0425.20+5.530+28.12%+0.15
+602023-02-0324.34+4.678+23.79%+0.13
+902023-03-0325.60+5.936+30.18%+0.17

One volatility unit for this series is 182.43%, the standard deviation of its own day-on-day percentage changes over the three years before the event (737 changes). It is not a significance test.

US proxy - not a European price: US jet spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).

Unit: $ per barrelPublished: dailyCalculatedLow
T0−30−14T0+14+30+60+9057.2023.782022-11-04: 51.50 $ per barrel, used for offsets −302022-11-21: 42.81 $ per barrel, used for offsets −142022-11-28: 30.74 $ per barrel, used for offsets −72022-12-02: 31.06 $ per barrel, used for offsets −3, −1same print as T0 — 2022-12-05, 27.02 $ per barrel, used for offsets T02022-12-06: 27.60 $ per barrel, used for offsets +12022-12-08: 35.20 $ per barrel, used for offsets +32022-12-12: 36.79 $ per barrel, used for offsets +72022-12-19: 36.02 $ per barrel, used for offsets +142023-01-04: 53.97 $ per barrel, used for offsets +302023-02-03: 29.38 $ per barrel, used for offsets +602023-03-03: 39.71 $ per barrel, used for offsets +90

x: days from the event date. Each mark sits at the date the figure was published, which is how the as-of rule answers an offset. At least one print used was published outside the −30 to +90 window; the axis is extended to show where it actually sits.

Window table for US proxy - not a European price: US jet spot minus Brent spot, USD per barrel. A proxy for the Atlantic-basin product market, NOT a measure of European refining margins (§H).: value, change from the event date and change in volatility units at each offset.
OffsetPrint usedValueΔ absΔ %Volatility units
−302022-11-0451.50+24.486+90.64%+0.51
−142022-11-2142.81+15.794+58.46%+0.33
−72022-11-2830.74+3.724+13.78%+0.08
−32022-12-0231.06+4.044+14.97%+0.08
−12022-12-0231.06+4.044+14.97%+0.08
T02022-12-05same print as T027.020.0000.00%0.00
+12022-12-0627.60+0.584+2.16%+0.01
+32022-12-0835.20+8.180+30.28%+0.17
+72022-12-1236.79+9.770+36.16%+0.21
+142022-12-1936.02+9.008+33.34%+0.19
+302023-01-0453.97+26.950+99.76%+0.57
+602023-02-0329.38+2.368+8.77%+0.05
+902023-03-0339.71+12.698+47.00%+0.27

One volatility unit for this series is 176.40%, the standard deviation of its own day-on-day percentage changes over the three years before the event (737 changes). It is not a significance test.

Not available: licence-blocked

A source exists and its licence does not permit us to republish it. These channels are not missing from the world, only from this page.

Arabian Gulf to north-west Europe dirty tanker rate

Tanker freight rates are licensed such that public display, onward passing and derived data are all expressly prohibited, verified verbatim, and no open institution publishes a tanker rate.

13 offsets in the window are affected.

EU refined-product benchmark

EU refined-product benchmarks (Platts / Argus) are proprietary with no redistribution grant. US crack spreads are not a valid EU proxy and are not substituted.

13 offsets in the window are affected.

EU refined-product benchmark

EU refined-product benchmarks (Platts / Argus) are proprietary with no redistribution grant. US crack spreads are not a valid EU proxy and are not substituted.

13 offsets in the window are affected.

north-west Europe refining margin / crack spread

No published refining-margin series is held, and computing a margin ourselves would need the licensed EU product benchmarks, which may not be republished.

13 offsets in the window are affected.

north-west Europe refining margin / crack spread

No published refining-margin series is held, and computing a margin ourselves would need the licensed EU product benchmarks, which may not be republished.

13 offsets in the window are affected.

wholesale / rack price

Wholesale / rack price series are proprietary with no redistribution grant.

13 offsets in the window are affected.

wholesale / rack price

Wholesale / rack price series are proprietary with no redistribution grant.

13 offsets in the window are affected.

Source
European Commission, Directorate-General for Energy (DG ENER)Unknown
Period 2022-10-31Updated 2026-09-25 14:09 UTCConfidenceUnknownMethodologyDownload CSV

T0 is 2022-12-05. The baseline window is -90 to -31 days. Offsets materialised: -30, -14, -7, -3, -1, 0, 1, 3, 7, 14, 30, 60, 90. Method 1.0, calculation event_study-1.0, computed 2026-09-25 14:09 UTC.

Is EU import ban on seaborne Russian crude oil (in force 5 December 2022) really the reason?

The question splits into dimensions that are measured separately and never added into one number. Each row says whether we can see that dimension at all, and gives one published figure where we can.

Of the eight price-transmission channels this site reports, 4 have data in this run Calculated - a count of the rows below, not a measurement.

Methodology §11.1 publishes the thresholds the sentences below use: all eight channels present for the full comparison, at least three for the claim to be testable here at all, and 2.0 volatility units for a move to be described as outside a series' normal variation. Those are published wording choices, not statistical tests.

Dimensions of exposure to EU import ban on seaborne Russian crude oil (in force 5 December 2022), each with its status and one published figure.
DimensionStatusPublished figure, or why there is none
Direct crude exposure (D1)Share of imported crude whose route requires the Strait of Hormuz.Range only1.111–9.289 % of imported tonnes at +30 d (2023-01) · no midpoint
Direct product exposure (D2)Share of imported refined product whose route requires the Strait of Hormuz.Range only1.264–2.783 % of imported tonnes at +30 d (2023-01) · no midpoint
Emergency stock cover (D7)Days of cover the published emergency stocks amount to. A buffer against a supply disruption, not a share of imports, and not a price channel.Observed105.6 days of cover at +30 d (published 2023-01-01)+0.56% from the level at T0 = +0.22 volatility units
Crude benchmarkThe quoted crude price European cargoes are priced against.Observed75.31 $ per barrel at +30 d (published 2023-01-04)-9.66% from the level at T0 = -2.14 volatility units
Refined-product benchmarkThe quoted product price refineries and wholesalers price against.UnavailableEU refined-product benchmarks (Platts / Argus) are proprietary with no redistribution grant. US crack spreads are not a valid EU proxy and are not substituted.
Refining marginWhat refining a barrel into this product earned.UnavailableNo published refining-margin series is held, and computing a margin ourselves would need the licensed EU product benchmarks, which may not be republished.
Freight ratesWhat it cost to ship the cargo.UnavailableTanker freight rates are licensed such that public display, onward passing and derived data are all expressly prohibited, verified verbatim, and no open institution publishes a tanker rate.
InventoriesStocks held, which absorb or amplify a supply change.Observed34,031,259 tonnes at +30 d (published 2023-01-01)+3.56% from the level at T0 = +2.49 volatility units
Wholesale pricesThe price between the refinery gate and the forecourt.UnavailableWholesale / rack price series are proprietary with no redistribution grant.
Pump price before taxThe pump price with excise, VAT and other fuel taxes stripped out.Observed1.010 € per litre at +30 d (published 2023-01-02)-7.18% from the level at T0 = -1.77 volatility units
Pump price with taxWhat a driver actually paid.Observed1.850 € per litre at +30 d (published 2023-01-02)-0.22% from the level at T0 = -0.08 volatility units

Physical exposure to the Strait of Hormuz and price exposure are different questions. A country with almost no direct physical exposure can still see its pump price move, because crude is priced globally - and a series that moved in this window may have moved for other reasons.

What the pump price did around this date

The decomposition page can be pinned to the weeks around the event date, so the pump move can be split into tax, input cost and the part the input cost does not account for.

Price decomposition, 2022-11-28 to 2023-01-04 →

The window is the published event date minus 7 days to plus 30 days. It is a window for looking, not a claim that the event caused what is inside it.

Actual vs crude-only: Germany, petrol (euro-super 95)

What the pre-tax price did from four weeks before to thirteen weeks after the event week, next to what it would have done had it followed only the crude input cost at the speed the stored pass-through estimate measures. The shaded difference is not explained by crude; it is not attributed to the event or to anything else. No fuel is selected, so petrol is shown.

2022-12-262023-03-06-20-1001020c/L since the anchor week
  • Actual pre-tax change(official prices)
  • What crude alone would have done(calculated, with range)
  • Shaded: not explained by crude(not attributed to any cause)

Changes are measured from the bulletin week of 2022-12-05. Crude response taken from the stored pass-through estimate over the full sample (2005-01-03 to 2026-09-14). The light band is a conservative range, not a 90% interval. The shaded area is not explained by crude: refining margins, freight, retail margins and model error are all inside it, and none is named as its cause.

  • Over the 4 weeks after EU import ban on seaborne Russian crude oil (in force 5 December 2022), crude costs alone would have moved Germany's pre-tax petrol price by -1.6 c/L (range -2.5–-0.8); it actually moved -12.7 c/L, leaving -11.1 c/L not explained by crude.
  • Over the 13 weeks after EU import ban on seaborne Russian crude oil (in force 5 December 2022), crude costs alone would have moved Germany's pre-tax petrol price by +1.5 c/L (range -1.9–+4.8); it actually moved -3.6 c/L, leaving -5.0 c/L not explained by crude.

What the numbers support, sentence by sentence

Each sentence comes from a fixed template, chosen by published thresholds. Open “why this sentence” to see the numbers that selected it. None of this text is written by a language model, and none of it attributes cause.

  1. In the 7 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), Germany's pre-tax petrol price moved -8.3%, which is 2.1 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    0.78752
    status
    OBSERVED
    country
    Germany
    z_score
    -8.324610054993608
    t0_value
    0.8589500000000001
    fuel_type
    EURO_SUPER_95
    change_pct
    -8.315967169218244
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    7
    series_code
    RETAIL_PRETAX_DE_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    variation_label
    week-to-week
    observation_date
    2022-12-12
    same_observation
    false
    volatility_units
    -2.1151844643324424
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.0714300000000001
    change_pct_from_t0
    -8.315967169218244
    observation_gap_days
    0
    normal_volatility_pct
    3.931556471526366
    change_in_volatility_units
    -2.1151844643324424
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    0.78752
    status
    OBSERVED
    country
    Germany
    z_score
    -8.324610054993608
    t0_value
    0.8589500000000001
    fuel_type
    EURO_SUPER_95
    change_pct
    -8.315967169218244
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    RETAIL_PRETAX_DE_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-12-12
    same_observation
    false
    volatility_units
    -2.1151844643324424
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.0714300000000001
    change_pct_from_t0
    -8.315967169218244
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    3.931556471526366
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -2.1151844643324424

    Template event.price_move.outside_normal v1.1 · Fingerprint 59489253a130928debaf9e2ad70fc70e5ae9b53ddb4b85d12bd86c5b7e61bcd3 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  2. In the 30 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), Germany's pre-tax petrol price moved -14.8%, which is 3.8 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    0.73172
    status
    OBSERVED
    country
    Germany
    z_score
    -10.440506112882522
    t0_value
    0.8589500000000001
    fuel_type
    EURO_SUPER_95
    change_pct
    -14.81227079573899
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    30
    series_code
    RETAIL_PRETAX_DE_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    variation_label
    week-to-week
    observation_date
    2023-01-02
    same_observation
    false
    volatility_units
    -3.7675335208878113
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.12723000000000007
    change_pct_from_t0
    -14.81227079573899
    observation_gap_days
    2
    normal_volatility_pct
    3.931556471526366
    change_in_volatility_units
    -3.7675335208878113
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    0.73172
    status
    OBSERVED
    country
    Germany
    z_score
    -10.440506112882522
    t0_value
    0.8589500000000001
    fuel_type
    EURO_SUPER_95
    change_pct
    -14.81227079573899
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    RETAIL_PRETAX_DE_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-01-02
    same_observation
    false
    volatility_units
    -3.7675335208878113
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.12723000000000007
    change_pct_from_t0
    -14.81227079573899
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    2
    normal_volatility_pct
    3.931556471526366
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -3.7675335208878113

    Template event.price_move.outside_normal v1.1 · Fingerprint e64cfaf169ef2a805050d5d0af6d892ca3ed01b5737583622ed78f7d974cf013 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  3. In the 90 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), Germany's pre-tax petrol price moved -6.3%, which is 1.6 times its normal week-to-week variation over the previous three years — within that range.

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    0.80483
    status
    OBSERVED
    country
    Germany
    z_score
    -7.668227245637743
    t0_value
    0.8589500000000001
    fuel_type
    EURO_SUPER_95
    change_pct
    -6.300715990453467
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    90
    series_code
    RETAIL_PRETAX_DE_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    variation_label
    week-to-week
    observation_date
    2023-02-27
    same_observation
    false
    volatility_units
    -1.602600912917146
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.05412000000000006
    change_pct_from_t0
    -6.300715990453467
    observation_gap_days
    6
    normal_volatility_pct
    3.931556471526366
    change_in_volatility_units
    -1.602600912917146
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    0.80483
    status
    OBSERVED
    country
    Germany
    z_score
    -7.668227245637743
    t0_value
    0.8589500000000001
    fuel_type
    EURO_SUPER_95
    change_pct
    -6.300715990453467
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    RETAIL_PRETAX_DE_EURO_SUPER_95
    series_kind
    pre-tax
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-02-27
    same_observation
    false
    volatility_units
    -1.602600912917146
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.05412000000000006
    change_pct_from_t0
    -6.300715990453467
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    6
    normal_volatility_pct
    3.931556471526366
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -1.602600912917146

    Template event.price_move.within_normal v1.1 · Fingerprint 60233039cdcf633ff4e26a459f565c8e5a3aaf11377ab58455d68728f6fea6d9 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  4. In the 7 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), Germany's tax-inclusive petrol price moved -4.7%, which is 2.0 times its normal week-to-week variation over the previous three years — within that range.

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.716
    status
    OBSERVED
    country
    Germany
    z_score
    -8.325022753374387
    t0_value
    1.801
    fuel_type
    EURO_SUPER_95
    change_pct
    -4.7196002220988325
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    7
    series_code
    RETAIL_INCLTAX_DE_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    variation_label
    week-to-week
    observation_date
    2022-12-12
    same_observation
    false
    volatility_units
    -1.9782030445080137
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.08499999999999996
    change_pct_from_t0
    -4.7196002220988325
    observation_gap_days
    0
    normal_volatility_pct
    2.3858017179791644
    change_in_volatility_units
    -1.9782030445080137
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.716
    status
    OBSERVED
    country
    Germany
    z_score
    -8.325022753374387
    t0_value
    1.801
    fuel_type
    EURO_SUPER_95
    change_pct
    -4.7196002220988325
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    RETAIL_INCLTAX_DE_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-12-12
    same_observation
    false
    volatility_units
    -1.9782030445080137
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.08499999999999996
    change_pct_from_t0
    -4.7196002220988325
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    2.3858017179791644
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -1.9782030445080137

    Template event.price_move.within_normal v1.1 · Fingerprint 43fc140060261f63a28bdfee5ba0dea5f39c54f1cd912e230d963159946878b2 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  5. In the 30 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), Germany's tax-inclusive petrol price moved -3.9%, which is 1.6 times its normal week-to-week variation over the previous three years — within that range.

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.731
    status
    OBSERVED
    country
    Germany
    z_score
    -7.8470310163385335
    t0_value
    1.801
    fuel_type
    EURO_SUPER_95
    change_pct
    -3.886729594669619
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    30
    series_code
    RETAIL_INCLTAX_DE_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    variation_label
    week-to-week
    observation_date
    2023-01-02
    same_observation
    false
    volatility_units
    -1.6291083895948317
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.06999999999999984
    change_pct_from_t0
    -3.886729594669619
    observation_gap_days
    2
    normal_volatility_pct
    2.3858017179791644
    change_in_volatility_units
    -1.6291083895948317
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.731
    status
    OBSERVED
    country
    Germany
    z_score
    -7.8470310163385335
    t0_value
    1.801
    fuel_type
    EURO_SUPER_95
    change_pct
    -3.886729594669619
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    RETAIL_INCLTAX_DE_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-01-02
    same_observation
    false
    volatility_units
    -1.6291083895948317
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.06999999999999984
    change_pct_from_t0
    -3.886729594669619
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    2
    normal_volatility_pct
    2.3858017179791644
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -1.6291083895948317

    Template event.price_move.within_normal v1.1 · Fingerprint 42b585d6f3f08678ac30a0128b9894f2a7a64934d61f574541db1f5cc34c9833 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  6. In the 90 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), Germany's tax-inclusive petrol price moved +0.9%, which is 0.4 times its normal week-to-week variation over the previous three years — within that range.

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.818
    status
    OBSERVED
    country
    Germany
    z_score
    -5.074678941530604
    t0_value
    1.801
    fuel_type
    EURO_SUPER_95
    change_pct
    0.9439200444197738
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    90
    series_code
    RETAIL_INCLTAX_DE_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    variation_label
    week-to-week
    observation_date
    2023-02-27
    same_observation
    false
    volatility_units
    0.3956406089016058
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.017000000000000126
    change_pct_from_t0
    0.9439200444197738
    observation_gap_days
    6
    normal_volatility_pct
    2.3858017179791644
    change_in_volatility_units
    0.3956406089016058
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.818
    status
    OBSERVED
    country
    Germany
    z_score
    -5.074678941530604
    t0_value
    1.801
    fuel_type
    EURO_SUPER_95
    change_pct
    0.9439200444197738
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    RETAIL_INCLTAX_DE_EURO_SUPER_95
    series_kind
    tax-inclusive
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-02-27
    same_observation
    false
    volatility_units
    0.3956406089016058
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.017000000000000126
    change_pct_from_t0
    0.9439200444197738
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    6
    normal_volatility_pct
    2.3858017179791644
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    0.3956406089016058

    Template event.price_move.within_normal v1.1 · Fingerprint 6d23b96571f0d9e1d3d1cf53fe350e339716599e1a05619c386acdd124e25950 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  7. In the 7 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), Germany's pre-tax diesel price moved -6.1%, which is 1.5 times its normal week-to-week variation over the previous three years — within that range.

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.0212
    status
    OBSERVED
    country
    Germany
    z_score
    -5.135304489863069
    t0_value
    1.08758
    fuel_type
    DIESEL
    change_pct
    -6.1034590558855335
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    7
    series_code
    RETAIL_PRETAX_DE_DIESEL
    series_kind
    pre-tax
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    variation_label
    week-to-week
    observation_date
    2022-12-12
    same_observation
    false
    volatility_units
    -1.5041911286390772
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.06637999999999988
    change_pct_from_t0
    -6.1034590558855335
    observation_gap_days
    0
    normal_volatility_pct
    4.0576353228513335
    change_in_volatility_units
    -1.5041911286390772
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.0212
    status
    OBSERVED
    country
    Germany
    z_score
    -5.135304489863069
    t0_value
    1.08758
    fuel_type
    DIESEL
    change_pct
    -6.1034590558855335
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    RETAIL_PRETAX_DE_DIESEL
    series_kind
    pre-tax
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-12-12
    same_observation
    false
    volatility_units
    -1.5041911286390772
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.06637999999999988
    change_pct_from_t0
    -6.1034590558855335
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    4.0576353228513335
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -1.5041911286390772

    Template event.price_move.within_normal v1.1 · Fingerprint 7bf1129021ff7b09510fa1f6ef5874b412f142a4f34ed70fde039443565799d3 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  8. In the 30 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), Germany's pre-tax diesel price moved -7.2%, which is 1.8 times its normal week-to-week variation over the previous three years — within that range.

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.00952
    status
    OBSERVED
    country
    Germany
    z_score
    -5.358010723750014
    t0_value
    1.08758
    fuel_type
    DIESEL
    change_pct
    -7.177403041615332
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    30
    series_code
    RETAIL_PRETAX_DE_DIESEL
    series_kind
    pre-tax
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    variation_label
    week-to-week
    observation_date
    2023-01-02
    same_observation
    false
    volatility_units
    -1.7688635055975686
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.07806000000000002
    change_pct_from_t0
    -7.177403041615332
    observation_gap_days
    2
    normal_volatility_pct
    4.0576353228513335
    change_in_volatility_units
    -1.7688635055975686
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.00952
    status
    OBSERVED
    country
    Germany
    z_score
    -5.358010723750014
    t0_value
    1.08758
    fuel_type
    DIESEL
    change_pct
    -7.177403041615332
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    RETAIL_PRETAX_DE_DIESEL
    series_kind
    pre-tax
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-01-02
    same_observation
    false
    volatility_units
    -1.7688635055975686
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.07806000000000002
    change_pct_from_t0
    -7.177403041615332
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    2
    normal_volatility_pct
    4.0576353228513335
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -1.7688635055975686

    Template event.price_move.within_normal v1.1 · Fingerprint e396a3299916b88ab91a442d5ad21fecfd5762971f944466c2e09dacd77fee09 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  9. In the 90 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), Germany's pre-tax diesel price moved -15.8%, which is 3.9 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    0.9154
    status
    OBSERVED
    country
    Germany
    z_score
    -7.152626368736229
    t0_value
    1.08758
    fuel_type
    DIESEL
    change_pct
    -15.831479063609114
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    90
    series_code
    RETAIL_PRETAX_DE_DIESEL
    series_kind
    pre-tax
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    variation_label
    week-to-week
    observation_date
    2023-02-27
    same_observation
    false
    volatility_units
    -3.9016515295130576
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.17218
    change_pct_from_t0
    -15.831479063609114
    observation_gap_days
    6
    normal_volatility_pct
    4.0576353228513335
    change_in_volatility_units
    -3.9016515295130576
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    0.9154
    status
    OBSERVED
    country
    Germany
    z_score
    -7.152626368736229
    t0_value
    1.08758
    fuel_type
    DIESEL
    change_pct
    -15.831479063609114
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    RETAIL_PRETAX_DE_DIESEL
    series_kind
    pre-tax
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-02-27
    same_observation
    false
    volatility_units
    -3.9016515295130576
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.17218
    change_pct_from_t0
    -15.831479063609114
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    6
    normal_volatility_pct
    4.0576353228513335
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -3.9016515295130576

    Template event.price_move.outside_normal v1.1 · Fingerprint ee4aa9eda3c6677260339213728a13465224c38c67610363b2b896bf42ea2256 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  10. In the 7 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), Germany's tax-inclusive diesel price moved -4.3%, which is 1.6 times its normal week-to-week variation over the previous three years — within that range.

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.7750000000000001
    status
    OBSERVED
    country
    Germany
    z_score
    -5.1353061354099445
    t0_value
    1.854
    fuel_type
    DIESEL
    change_pct
    -4.26105717367853
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    7
    series_code
    RETAIL_INCLTAX_DE_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    variation_label
    week-to-week
    observation_date
    2022-12-12
    same_observation
    false
    volatility_units
    -1.5794761115113654
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.07899999999999996
    change_pct_from_t0
    -4.26105717367853
    observation_gap_days
    0
    normal_volatility_pct
    2.6977661406991587
    change_in_volatility_units
    -1.5794761115113654
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.7750000000000001
    status
    OBSERVED
    country
    Germany
    z_score
    -5.1353061354099445
    t0_value
    1.854
    fuel_type
    DIESEL
    change_pct
    -4.26105717367853
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    RETAIL_INCLTAX_DE_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2022-12-12
    same_observation
    false
    volatility_units
    -1.5794761115113654
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.07899999999999996
    change_pct_from_t0
    -4.26105717367853
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    2.6977661406991587
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -1.5794761115113654

    Template event.price_move.within_normal v1.1 · Fingerprint bf912de00443944e92178f1778e49c2e119ece09652be817f5b109b227bbb5a3 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  11. In the 30 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), Germany's tax-inclusive diesel price moved -0.2%, which is 0.1 times its normal week-to-week variation over the previous three years — within that range.

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.85
    status
    OBSERVED
    country
    Germany
    z_score
    -3.9335964313358542
    t0_value
    1.854
    fuel_type
    DIESEL
    change_pct
    -0.21574973031283728
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    30
    series_code
    RETAIL_INCLTAX_DE_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    variation_label
    week-to-week
    observation_date
    2023-01-02
    same_observation
    false
    volatility_units
    -0.07997347400057558
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.0040000000000000036
    change_pct_from_t0
    -0.21574973031283728
    observation_gap_days
    2
    normal_volatility_pct
    2.6977661406991587
    change_in_volatility_units
    -0.07997347400057558
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.85
    status
    OBSERVED
    country
    Germany
    z_score
    -3.9335964313358542
    t0_value
    1.854
    fuel_type
    DIESEL
    change_pct
    -0.21574973031283728
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    RETAIL_INCLTAX_DE_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-01-02
    same_observation
    false
    volatility_units
    -0.07997347400057558
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.0040000000000000036
    change_pct_from_t0
    -0.21574973031283728
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    2
    normal_volatility_pct
    2.6977661406991587
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -0.07997347400057558

    Template event.price_move.within_normal v1.1 · Fingerprint bf8cf3b9278dbf02db9f09ba5e1dbf903c4460f8c15cf08144439e7545f24a4a · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  12. In the 90 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), Germany's tax-inclusive diesel price moved -6.3%, which is 2.3 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.738
    status
    OBSERVED
    country
    Germany
    z_score
    -5.728149589419831
    t0_value
    1.854
    fuel_type
    DIESEL
    change_pct
    -6.2567421790722815
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    90
    series_code
    RETAIL_INCLTAX_DE_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    variation_label
    week-to-week
    observation_date
    2023-02-27
    same_observation
    false
    volatility_units
    -2.3192307460166917
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.1160000000000001
    change_pct_from_t0
    -6.2567421790722815
    observation_gap_days
    6
    normal_volatility_pct
    2.6977661406991587
    change_in_volatility_units
    -2.3192307460166917
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (week-to-week)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    1.738
    status
    OBSERVED
    country
    Germany
    z_score
    -5.728149589419831
    t0_value
    1.854
    fuel_type
    DIESEL
    change_pct
    -6.2567421790722815
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    RETAIL_INCLTAX_DE_DIESEL
    series_kind
    tax-inclusive
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    statement_topic
    event
    variation_label
    week-to-week
    observation_date
    2023-02-27
    same_observation
    false
    volatility_units
    -2.3192307460166917
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    -0.1160000000000001
    change_pct_from_t0
    -6.2567421790722815
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    6
    normal_volatility_pct
    2.6977661406991587
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -2.3192307460166917

    Template event.price_move.outside_normal v1.1 · Fingerprint a90818e3c56e8bb66054f46ae62afc5fc81f97253b39824f46daafbe02d429a2 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  13. Over the 4 weeks after EU import ban on seaborne Russian crude oil (in force 5 December 2022), crude costs alone would have moved Germany's pre-tax petrol price by -1.6 c/L (range -2.5–-0.8); it actually moved -12.7 c/L, leaving -11.1 c/L not explained by crude.

    about GermanyCalculatedMedium
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    weeks
    4
    status
    COMPUTED
    country
    Germany
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    series_code
    CRUDE_ONLY_EXPECTED_DE_EURO_SUPER_95
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    offset_weeks
    4
    proxy_product
    GASOLINE
    proxy_to_date
    2022-12-30
    pass_through_k
    1
    proxy_from_date
    2022-12-05
    observation_date
    2023-01-02
    gap_eur_per_litre
    -0.11080203389184634
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-12-05
    actual_eur_per_litre
    -0.12723000000000007
    expected_eur_per_litre
    -0.016427966108153724
    proxy_volatility_units
    0.2070376188168671
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    7.428000000000001
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    expected_low_eur_per_litre
    -0.025334154468435344
    expected_high_eur_per_litre
    -0.00752177774787233
    proxy_normal_volatility_pct
    182.43434263983826
    Thresholds
    source
    docs/PRICE_MODEL.md §7.7; horizons are a v1 choice of this module
    proxy_rule
    the proxy sentence is added only when the US crack spread proxy moved by at least UNUSUAL_MOVE_VOLATILITY_UNITS of its normal day-to-day variation over the same weeks
    confidence_cap
    MEDIUM (docs/PRICE_MODEL.md §7.5)
    statement_weeks
    [4,13]
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    weeks
    4
    status
    COMPUTED
    country
    Germany
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    series_code
    CRUDE_ONLY_EXPECTED_DE_EURO_SUPER_95
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    offset_weeks
    4
    proxy_product
    GASOLINE
    proxy_to_date
    2022-12-30
    pass_through_k
    1
    proxy_from_date
    2022-12-05
    statement_topic
    event
    observation_date
    2023-01-02
    gap_eur_per_litre
    -0.11080203389184634
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-12-05
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    -0.12723000000000007
    expected_eur_per_litre
    -0.016427966108153724
    proxy_volatility_units
    0.2070376188168671
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    7.428000000000001
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    study_calculation_version
    event_study-1.0
    expected_low_eur_per_litre
    -0.025334154468435344
    expected_high_eur_per_litre
    -0.00752177774787233
    proxy_normal_volatility_pct
    182.43434263983826

    Template event.crude_only.computed v1.1 · Fingerprint 2454f28a3a27f8621bfc26047a5d26adb135a949c2a2e49bb68865d898ad5da0 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  14. Over the 13 weeks after EU import ban on seaborne Russian crude oil (in force 5 December 2022), crude costs alone would have moved Germany's pre-tax petrol price by +1.5 c/L (range -1.9–+4.8); it actually moved -3.6 c/L, leaving -5.0 c/L not explained by crude.

    about GermanyCalculatedMedium
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    weeks
    13
    status
    COMPUTED
    country
    Germany
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    series_code
    CRUDE_ONLY_EXPECTED_DE_EURO_SUPER_95
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    offset_weeks
    13
    proxy_product
    GASOLINE
    proxy_to_date
    2023-03-06
    pass_through_k
    1
    proxy_from_date
    2022-12-05
    observation_date
    2023-03-06
    gap_eur_per_litre
    -0.050131469303278504
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-12-05
    actual_eur_per_litre
    -0.03563000000000005
    expected_eur_per_litre
    0.014501469303278454
    proxy_volatility_units
    0.15391245706875872
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    5.5219999999999985
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    expected_low_eur_per_litre
    -0.01899335083015863
    expected_high_eur_per_litre
    0.047996289436716195
    proxy_normal_volatility_pct
    182.43434263983826
    Thresholds
    source
    docs/PRICE_MODEL.md §7.7; horizons are a v1 choice of this module
    proxy_rule
    the proxy sentence is added only when the US crack spread proxy moved by at least UNUSUAL_MOVE_VOLATILITY_UNITS of its normal day-to-day variation over the same weeks
    confidence_cap
    MEDIUM (docs/PRICE_MODEL.md §7.5)
    statement_weeks
    [4,13]
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    petrol
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    weeks
    13
    status
    COMPUTED
    country
    Germany
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    series_code
    CRUDE_ONLY_EXPECTED_DE_EURO_SUPER_95
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    offset_weeks
    13
    proxy_product
    GASOLINE
    proxy_to_date
    2023-03-06
    pass_through_k
    1
    proxy_from_date
    2022-12-05
    statement_topic
    event
    observation_date
    2023-03-06
    gap_eur_per_litre
    -0.050131469303278504
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-12-05
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    -0.03563000000000005
    expected_eur_per_litre
    0.014501469303278454
    proxy_volatility_units
    0.15391245706875872
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    5.5219999999999985
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    study_calculation_version
    event_study-1.0
    expected_low_eur_per_litre
    -0.01899335083015863
    expected_high_eur_per_litre
    0.047996289436716195
    proxy_normal_volatility_pct
    182.43434263983826

    Template event.crude_only.computed v1.1 · Fingerprint 9295062fba9f38bdda34b155f73d78229c61800c9d4bf901ecb9853e02aea9d4 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  15. Over the 4 weeks after EU import ban on seaborne Russian crude oil (in force 5 December 2022), crude costs alone would have moved Germany's pre-tax diesel price by -0.4 c/L (range -1.7–+0.9); it actually moved -7.8 c/L, leaving -7.4 c/L not explained by crude. Over the same period the US diesel crack spread, a proxy for the Atlantic product market and not a European margin, widened by 12.6 $/bbl.

    about GermanyCalculatedMedium
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    weeks
    4
    status
    COMPUTED
    country
    Germany
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    series_code
    CRUDE_ONLY_EXPECTED_DE_DIESEL
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    offset_weeks
    4
    proxy_product
    DIESEL
    proxy_to_date
    2022-12-30
    pass_through_k
    1
    proxy_from_date
    2022-12-05
    observation_date
    2023-01-02
    gap_eur_per_litre
    -0.07415675148790296
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-12-05
    actual_eur_per_litre
    -0.07806000000000002
    expected_eur_per_litre
    -0.003903248512097064
    proxy_volatility_units
    2.948513147105371
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    12.594000000000001
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    expected_low_eur_per_litre
    -0.017183274677877586
    expected_high_eur_per_litre
    0.009376777653680578
    proxy_normal_volatility_pct
    9.842624566455152
    Thresholds
    source
    docs/PRICE_MODEL.md §7.7; horizons are a v1 choice of this module
    proxy_rule
    the proxy sentence is added only when the US crack spread proxy moved by at least UNUSUAL_MOVE_VOLATILITY_UNITS of its normal day-to-day variation over the same weeks
    confidence_cap
    MEDIUM (docs/PRICE_MODEL.md §7.5)
    statement_weeks
    [4,13]
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    weeks
    4
    status
    COMPUTED
    country
    Germany
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    series_code
    CRUDE_ONLY_EXPECTED_DE_DIESEL
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    offset_weeks
    4
    proxy_product
    DIESEL
    proxy_to_date
    2022-12-30
    pass_through_k
    1
    proxy_from_date
    2022-12-05
    statement_topic
    event
    observation_date
    2023-01-02
    gap_eur_per_litre
    -0.07415675148790296
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-12-05
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    -0.07806000000000002
    expected_eur_per_litre
    -0.003903248512097064
    proxy_volatility_units
    2.948513147105371
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    12.594000000000001
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    study_calculation_version
    event_study-1.0
    expected_low_eur_per_litre
    -0.017183274677877586
    expected_high_eur_per_litre
    0.009376777653680578
    proxy_normal_volatility_pct
    9.842624566455152

    Template event.crude_only.computed_with_proxy v1.1 · Fingerprint eb709f284c5e05fa110a0a7c99f9d1478b99e04086d05c2865a3565fe046c172 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  16. Over the 13 weeks after EU import ban on seaborne Russian crude oil (in force 5 December 2022), crude costs alone would have moved Germany's pre-tax diesel price by +7.0 c/L (range +1.8–+12.1); it actually moved -15.0 c/L, leaving -22.0 c/L not explained by crude.

    about GermanyCalculatedMedium
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    weeks
    13
    status
    COMPUTED
    country
    Germany
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    series_code
    CRUDE_ONLY_EXPECTED_DE_DIESEL
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    offset_weeks
    13
    proxy_product
    DIESEL
    proxy_to_date
    2023-03-06
    pass_through_k
    1
    proxy_from_date
    2022-12-05
    observation_date
    2023-03-06
    gap_eur_per_litre
    -0.21994979855845156
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-12-05
    actual_eur_per_litre
    -0.15032999999999996
    expected_eur_per_litre
    0.0696197985584516
    proxy_volatility_units
    -1.6767707765260176
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    -7.161999999999999
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    expected_low_eur_per_litre
    0.018169805534663113
    expected_high_eur_per_litre
    0.12106979158224125
    proxy_normal_volatility_pct
    9.842624566455152
    Thresholds
    source
    docs/PRICE_MODEL.md §7.7; horizons are a v1 choice of this module
    proxy_rule
    the proxy sentence is added only when the US crack spread proxy moved by at least UNUSUAL_MOVE_VOLATILITY_UNITS of its normal day-to-day variation over the same weeks
    confidence_cap
    MEDIUM (docs/PRICE_MODEL.md §7.5)
    statement_weeks
    [4,13]
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    fuel
    diesel
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    weeks
    13
    status
    COMPUTED
    country
    Germany
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    series_code
    CRUDE_ONLY_EXPECTED_DE_DIESEL
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    offset_weeks
    13
    proxy_product
    DIESEL
    proxy_to_date
    2023-03-06
    pass_through_k
    1
    proxy_from_date
    2022-12-05
    statement_topic
    event
    observation_date
    2023-03-06
    gap_eur_per_litre
    -0.21994979855845156
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2022-12-05
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    -0.15032999999999996
    expected_eur_per_litre
    0.0696197985584516
    proxy_volatility_units
    -1.6767707765260176
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    -7.161999999999999
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    study_calculation_version
    event_study-1.0
    expected_low_eur_per_litre
    0.018169805534663113
    expected_high_eur_per_litre
    0.12106979158224125
    proxy_normal_volatility_pct
    9.842624566455152

    Template event.crude_only.computed v1.1 · Fingerprint 94d013b6e0c9ef62497480eee79615e2d529f5349c056ef026bb07e786df2e6f · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  17. Direct physical dependence on Hormuz-linked crude was moderate (3%–11%) for Germany in 2022-12. No point estimate is published: the origins concerned export from both inside and outside the Persian Gulf and the split per period is not public.

    about GermanyCalculatedMedium
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    band
    moderate
    unit
    % of imported tonnes
    period
    2022-12
    status
    NO_OBSERVATION
    country
    Germany
    commodity
    crude
    dimension
    DIRECT_CRUDE
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    value_max_pct
    11.3852578100819
    value_min_pct
    3.12951459198304
    exposure_status
    RANGE_ONLY
    value_point_pct
    null
    observation_date
    2022-12-01
    Thresholds
    source
    v1 choice of this module; docs/METHODOLOGY.md §9 publishes no bands
    band_applied_to
    upper bound of the range (docs/HORMUZ_METHOD.md §3.2: a range has no meaningful midpoint)
    dependence_limited_max_pct
    10
    dependence_moderate_max_pct
    33
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    band
    moderate
    unit
    % of imported tonnes
    period
    2022-12
    status
    NO_OBSERVATION
    country
    Germany
    commodity
    crude
    dimension
    DIRECT_CRUDE
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    value_max_pct
    11.3852578100819
    value_min_pct
    3.12951459198304
    exposure_status
    RANGE_ONLY
    statement_topic
    hormuz
    value_point_pct
    null
    observation_date
    2022-12-01
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.dependence.range v1.1 · Fingerprint 9d07dea88f3fa5e7d9b0024cf8c8fe9f36dfc345fe43afe0d4ae3b5bbc676635 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  18. Direct physical dependence on Hormuz-linked refined product was limited (0%–1%) for Germany in 2022-12. No point estimate is published: the origins concerned export from both inside and outside the Persian Gulf and the split per period is not public.

    about GermanyCalculatedMedium
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    band
    limited
    unit
    % of imported tonnes
    period
    2022-12
    status
    NO_OBSERVATION
    country
    Germany
    commodity
    refined product
    dimension
    DIRECT_PRODUCT
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    value_max_pct
    0.923697559886902
    value_min_pct
    0
    exposure_status
    PARTIAL
    value_point_pct
    null
    observation_date
    2022-12-01
    Thresholds
    source
    v1 choice of this module; docs/METHODOLOGY.md §9 publishes no bands
    band_applied_to
    upper bound of the range (docs/HORMUZ_METHOD.md §3.2: a range has no meaningful midpoint)
    dependence_limited_max_pct
    10
    dependence_moderate_max_pct
    33
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    band
    limited
    unit
    % of imported tonnes
    period
    2022-12
    status
    NO_OBSERVATION
    country
    Germany
    commodity
    refined product
    dimension
    DIRECT_PRODUCT
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    value_max_pct
    0.923697559886902
    value_min_pct
    0
    exposure_status
    PARTIAL
    statement_topic
    hormuz
    value_point_pct
    null
    observation_date
    2022-12-01
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.dependence.range v1.1 · Fingerprint 0a24afafe5deacd95978236e64c4f2ea745cd5261cf8d1d37c1fc8cf51ed1ed8 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  19. Available evidence does not show a physical supply reduction: Germany's reported crude imports in 2022-12 were -1.2% against the mean of the previous 12 months.

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    unit
    tonnes
    month
    2022-12
    country
    Germany
    change_pct
    -1.2139640821439668
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    partner_role
    ORIGIN
    value_tonnes
    7026975
    baseline_months
    12
    observation_date
    2022-12-01
    series_source_ids
    ["eurostat_nrg_ti_oilm"]
    baseline_mean_tonnes
    7113328.25
    Thresholds
    source
    v1 choice of this module; docs/METHODOLOGY.md publishes no cut-off
    min_baseline_months
    6
    baseline_months_used
    12
    supply_reduction_pct
    -10
    supply_baseline_months
    12
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    unit
    tonnes
    month
    2022-12
    country
    Germany
    change_pct
    -1.2139640821439668
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    partner_role
    ORIGIN
    value_tonnes
    7026975
    baseline_months
    12
    statement_topic
    event
    observation_date
    2022-12-01
    series_source_ids
    ["eurostat_nrg_ti_oilm"]
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    baseline_mean_tonnes
    7113328.25
    study_calculation_version
    event_study-1.0

    Template event.supply.no_reduction v1.1 · Fingerprint 88b7a5a5ea686f4c51ca27c64ae206035b4f51a0ba4de365a40b95a76f436ef0 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  20. In 2022-12, Germany's oil stocks stood 1.6% above their trailing 12-month mean — inside the 5% either side that this site reads as in line with it, with 105.0 days of cover (as published).

    about GermanyCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    unit
    tonnes
    month
    2022-12
    status
    OBSERVED
    country
    Germany
    direction
    above
    siec_code
    O4000
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    holder_type
    STK_CL
    series_code
    INVENTORY_DE
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    days_of_cover
    105
    metric_status
    COMPUTED
    mom_change_pct
    1.321664044940148
    observation_date
    2022-12-01
    series_source_ids
    ["eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm"]
    total_stock_tonnes
    32861479
    days_of_cover_basis
    as published by Eurostat (nrg_stk_oem, STK_EUE_DIR); not stocks divided by consumption (docs/HORMUZ_METHOD.md D7)
    observation_gap_days
    4
    trailing_12m_mean_tonnes
    32343198.333333332
    level_vs_trailing_12m_pct
    1.6024409872060168
    trailing_12m_observations
    12
    Thresholds
    source
    v1 choice of this module; docs/METHODOLOGY.md publishes no band
    band_applied_to
    the rounded figure printed in the sentence
    days_of_cover_basis
    as published (Eurostat nrg_stk_oem, STK_EUE_DIR); never stocks divided by consumption (docs/HORMUZ_METHOD.md D7)
    trailing_window_months
    12
    level_vs_trailing_12m_pct_raw
    1.6024409872060168
    level_vs_trailing_12m_pct_shown
    1.6
    inventory_material_deviation_pct
    5
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    unit
    tonnes
    month
    2022-12
    status
    OBSERVED
    country
    Germany
    direction
    above
    siec_code
    O4000
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    holder_type
    STK_CL
    series_code
    INVENTORY_DE
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    days_of_cover
    105
    metric_status
    COMPUTED
    mom_change_pct
    1.321664044940148
    statement_topic
    event
    observation_date
    2022-12-01
    series_source_ids
    ["eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm"]
    total_stock_tonnes
    32861479
    calculation_version
    event_statements-1.0
    days_of_cover_basis
    as published by Eurostat (nrg_stk_oem, STK_EUE_DIR); not stocks divided by consumption (docs/HORMUZ_METHOD.md D7)
    methodology_version
    1.0
    observation_gap_days
    4
    trailing_12m_mean_tonnes
    32343198.333333332
    level_vs_trailing_12m_pct
    1.6024409872060168
    study_calculation_version
    event_study-1.0
    trailing_12m_observations
    12

    Template event.inventory_level.in_line v1.1 · Fingerprint 9fa86a16a4f5930d095fc800e7de8f39ab0f9ac5c5ef9d410bc19e0486aa2465 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  21. Summary of what can be checked here

    Only part of the chain can be checked for Germany around EU import ban on seaborne Russian crude oil (in force 5 December 2022): 4 of the 8 series the method compares are available (crude benchmark, inventories, pre-tax pump price and pump price with tax), while refined-product benchmark, refining margin, freight rates and wholesale prices are not. Any claim that rests on the missing links cannot be tested here. Direct physical dependence on Hormuz-linked crude was moderate (3–11%) over the period covered. This page describes what each series did around the event date. It is not a finding about cause: no causal design is published for this site, and a series that moved in the same window may have moved for other reasons.

    about GermanyUnknownUnknown
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    country
    Germany
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    dependence_band
    moderate
    dependence_range
    3–11%
    channels_available
    ["crude benchmark","inventories","pre-tax pump price","pump price with tax"]
    supply_template_id
    event.supply.no_reduction
    channels_unavailable
    ["refined-product benchmark","refining margin","freight rates","wholesale prices"]
    Thresholds
    source
    v1 choice of this module; the channel list is docs/PRICE_MODEL.md §2.3
    channels_total
    8
    channels_available
    4
    verdict_partial_min_channels
    3
    verdict_assessable_min_channels
    8
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    country
    Germany
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    dependence_band
    moderate
    statement_topic
    event
    dependence_range
    3–11%
    channels_available
    ["crude benchmark","inventories","pre-tax pump price","pump price with tax"]
    supply_template_id
    event.supply.no_reduction
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    channels_unavailable
    ["refined-product benchmark","refining margin","freight rates","wholesale prices"]
    study_calculation_version
    event_study-1.0

    Template event.verdict.partial v1.1 · Fingerprint ead3885887d0aac82e42d7d11e31a5884b1ce4301a34a9db6ab52219063a5e92 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  22. In the 7 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), the Brent crude benchmark moved -6.4%, which is 1.4 times its normal day-to-day variation over the previous three years — within that range.

    about the event as a wholeCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    unit
    $/BBL
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    78
    status
    OBSERVED
    z_score
    -3.919330167431879
    t0_value
    83.36
    benchmark
    Brent crude
    change_pct
    -6.429942418426104
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    7
    series_code
    BRENT
    variation_label
    day-to-day
    observation_date
    2022-12-12
    same_observation
    false
    volatility_units
    -1.424724765497578
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    -5.359999999999999
    change_pct_from_t0
    -6.429942418426104
    observation_gap_days
    0
    normal_volatility_pct
    4.513111987760301
    change_in_volatility_units
    -1.424724765497578
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (day-to-day)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    unit
    $/BBL
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    78
    status
    OBSERVED
    z_score
    -3.919330167431879
    t0_value
    83.36
    benchmark
    Brent crude
    change_pct
    -6.429942418426104
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    7
    series_code
    BRENT
    statement_topic
    event
    variation_label
    day-to-day
    observation_date
    2022-12-12
    same_observation
    false
    volatility_units
    -1.424724765497578
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    -5.359999999999999
    change_pct_from_t0
    -6.429942418426104
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    4.513111987760301
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -1.424724765497578

    Template event.benchmark_move.within_normal v1.1 · Fingerprint b54773c6d8ea729448e355679535649a28ea7e4cedc8813dfcf6f2802aab32bd · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  23. In the 30 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), the Brent crude benchmark moved -9.7%, which is 2.1 times its normal day-to-day variation over the previous three years — outside that range.

    about the event as a wholeCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    unit
    $/BBL
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    75.31
    status
    OBSERVED
    z_score
    -4.677910199838048
    t0_value
    83.36
    benchmark
    Brent crude
    change_pct
    -9.65690978886756
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    30
    series_code
    BRENT
    variation_label
    day-to-day
    observation_date
    2023-01-04
    same_observation
    false
    volatility_units
    -2.1397452168387128
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    -8.049999999999997
    change_pct_from_t0
    -9.65690978886756
    observation_gap_days
    0
    normal_volatility_pct
    4.513111987760301
    change_in_volatility_units
    -2.1397452168387128
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (day-to-day)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    unit
    $/BBL
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    75.31
    status
    OBSERVED
    z_score
    -4.677910199838048
    t0_value
    83.36
    benchmark
    Brent crude
    change_pct
    -9.65690978886756
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    30
    series_code
    BRENT
    statement_topic
    event
    variation_label
    day-to-day
    observation_date
    2023-01-04
    same_observation
    false
    volatility_units
    -2.1397452168387128
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    -8.049999999999997
    change_pct_from_t0
    -9.65690978886756
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    4.513111987760301
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    -2.1397452168387128

    Template event.benchmark_move.outside_normal v1.1 · Fingerprint a66bdad4120941189e2864b65cefe96af6989d6c7dc9d9e481dad3f463e1452c · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  24. In the 90 days after EU import ban on seaborne Russian crude oil (in force 5 December 2022), the Brent crude benchmark moved +2.9%, which is 0.6 times its normal day-to-day variation over the previous three years — within that range.

    about the event as a wholeCalculatedOfficial
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    unit
    $/BBL
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    85.74
    status
    OBSERVED
    z_score
    -1.7366500741888493
    t0_value
    83.36
    benchmark
    Brent crude
    change_pct
    2.855086372360839
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    offset_days
    90
    series_code
    BRENT
    variation_label
    day-to-day
    observation_date
    2023-03-03
    same_observation
    false
    volatility_units
    0.6326203249784009
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    2.3799999999999955
    change_pct_from_t0
    2.855086372360839
    observation_gap_days
    2
    normal_volatility_pct
    4.513111987760301
    change_in_volatility_units
    0.6326203249784009
    Thresholds
    source
    v1 choice of this module; docs/PRICE_MODEL.md §2.2 requires the comparison but publishes no cut-off
    volatility_definition
    sample sd of period-over-period % changes over the 3 years before T0, at the series' own frequency (day-to-day)
    unusual_move_volatility_units
    2
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    unit
    $/BBL
    event
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    value
    85.74
    status
    OBSERVED
    z_score
    -1.7366500741888493
    t0_value
    83.36
    benchmark
    Brent crude
    change_pct
    2.855086372360839
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    offset_days
    90
    series_code
    BRENT
    statement_topic
    event
    variation_label
    day-to-day
    observation_date
    2023-03-03
    same_observation
    false
    volatility_units
    0.6326203249784009
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    2.3799999999999955
    change_pct_from_t0
    2.855086372360839
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    2
    normal_volatility_pct
    4.513111987760301
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    0.6326203249784009

    Template event.benchmark_move.within_normal v1.1 · Fingerprint 95c15aae3aef102cb53ce9861989a6b3fd3d482e297b83dd1613ec9cd40b15cc · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  25. Freight rates reaction cannot be assessed: tanker freight rates are licensed such that public display, onward passing and derived data are all expressly prohibited, verified verbatim, and no open institution publishes a tanker rate.

    about the event as a wholeUnknownUnknown
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    channels
    ["freight rates"]
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    reason_code
    NO_LICENSED_FREIGHT_SOURCE
    Thresholds
    source
    CLAUDE.md §1; docs/PRICE_MODEL.md §2.1 (a series with no licensed source is visible as a gap)
    any_missing_channel_is_disclosed
    true
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    channels
    ["freight rates"]
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    reason_code
    NO_LICENSED_FREIGHT_SOURCE
    statement_topic
    event
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.channel.unavailable v1.1 · Fingerprint 81f14ddf9bdd5a846c68ffa6a0c2ac90cc0051c094198d9fc185147f886c0b88 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  26. Refined-product benchmark reaction cannot be assessed: EU refined-product benchmarks (Platts / Argus) are proprietary with no redistribution grant. US crack spreads are not a valid EU proxy and are not substituted.

    about the event as a wholeUnknownUnknown
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    channels
    ["refined-product benchmark"]
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    reason_code
    NO_LICENSED_PRODUCT_BENCHMARK
    Thresholds
    source
    CLAUDE.md §1; docs/PRICE_MODEL.md §2.1 (a series with no licensed source is visible as a gap)
    any_missing_channel_is_disclosed
    true
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    channels
    ["refined-product benchmark"]
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    reason_code
    NO_LICENSED_PRODUCT_BENCHMARK
    statement_topic
    event
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.channel.unavailable v1.1 · Fingerprint 91941020696deeb37b6bfcb5c4e321ba5865cedc68042d4a64d30524b6fb2549 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  27. Wholesale prices reaction cannot be assessed: wholesale / rack price series are proprietary with no redistribution grant.

    about the event as a wholeUnknownUnknown
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    channels
    ["wholesale prices"]
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    reason_code
    NO_LICENSED_WHOLESALE_SERIES
    Thresholds
    source
    CLAUDE.md §1; docs/PRICE_MODEL.md §2.1 (a series with no licensed source is visible as a gap)
    any_missing_channel_is_disclosed
    true
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    channels
    ["wholesale prices"]
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    reason_code
    NO_LICENSED_WHOLESALE_SERIES
    statement_topic
    event
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.channel.unavailable v1.1 · Fingerprint e638c4d7da43b662509013a365f2d13fca0fa20208646d67ade6d6d3b40790a0 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  28. Refining margin reaction cannot be assessed: no published refining-margin series is held, and computing a margin ourselves would need the licensed EU product benchmarks, which may not be republished.

    about the event as a wholeUnknownUnknown
    Why this sentence
    Variables
    t0
    2022-12-05T00:00:00+00:00
    channels
    ["refining margin"]
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    reason_code
    NO_REFINERY_MARGIN_SERIES
    Thresholds
    source
    CLAUDE.md §1; docs/PRICE_MODEL.md §2.1 (a series with no licensed source is visible as a gap)
    any_missing_channel_is_disclosed
    true
    Inputs
    t0
    2022-12-05T00:00:00+00:00
    channels
    ["refining margin"]
    event_name
    EU import ban on seaborne Russian crude oil (in force 5 December 2022)
    event_slug
    eu-russia-crude-embargo-2022
    event_type
    EMBARGO
    source_ids
    ["ec_weekly_oil_bulletin","ecb_exr_reference_rates","eia_brent_rbrte","eia_us_product_spot","eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm","eurostat_nrg_ti_oilm","reference_hormuz_v1"]
    reason_code
    NO_REFINERY_MARGIN_SERIES
    statement_topic
    event
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.channel.unavailable v1.1 · Fingerprint e1f282615a660e84b280ecac2938abde9502c7d8209f04d500d682817c457aef · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

What this does not show

  • It does not show that the event caused anything. No causal design is published for this site, and a series that moved in this window may have moved for other reasons.
  • A change in volatility units is not a significance test, and neither is a z-score. They measure different things and are not interchangeable.
  • Channels with no licensed or loaded source are shown as empty panels, not as flat lines. “We cannot see this” is not “this did not move”.
  • Nothing is interpolated. Where several offsets resolve to one published figure, that is what the publisher printed, and the change against the event date is zero because it is the same number.

Germany: supply, refineries and pump prices →

How to read the labels

  • OfficialReported directly by an official authority.
  • VerifiedReported by a third party we have verified against a primary record.
  • CalculatedComputed by us from reported inputs. The method is published on the methodology page.
  • Inferred · highNot reported. Inferred from at least two independent physical records.
  • Inferred · mediumNot reported. Inferred from strong indirect evidence, with no explicit confirmation.
  • Inferred · lowNot reported. Plausible from infrastructure or movement data only. Do not read as fact.
  • UnknownNo defensible public evidence establishes this. We are not guessing, and this is not a measurement of zero.