Fuel Origin

Events / Shipping disruption

Strait of Hormuz shipping disruption (2026)

Dates
2026-02-28 → no end date recorded
Dated to
the day
Status
Ongoing
Scope
Strait of Hormuz / Persian Gulf

What the sources said

Onset date as published by two independent agencies. IEA, 11 March 2026: "The conflict in the Middle East that began on 28 February 2026 has impeded oil flows through the Strait of Hormuz, with export volumes of crude and refined products currently at less than 10% of pre-conflict levels." EIA Short-Term Energy Outlook, April 2026: "The strait has been effectively closed to shipping traffic since military action began on February 28." EIA STEO March 2026 dates the same onset ("the onset of military action in the Middle East that began on February 28"). Reported transit volumes: EIA STEO August 2026 - "crude oil and petroleum liquids transported through the Strait of Hormuz averaged 4.9 million barrels per day (b/d) in the second quarter of 2026 (2Q26), down from an average of 21.6 million b/d in 4Q25 before the conflict began"; IEA commentary 22 June 2026 gives an average of 2.7 million b/d for March-May 2026 against "around 20 million barrels per day" before. Date disagreement recorded, not resolved: EIA Today in Energy of 15 July 2026 dates the US-Iran memorandum of understanding on resuming traffic to 17 June 2026, while the EIA press release of 7 July 2026 dates the same memorandum to 18 June 2026. No end date is recorded: EIA STEO September 2026 still describes flows through the strait as constrained and variable, and EIA STEO August 2026 records renewed attacks on tankers from 7 July 2026. 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)Verified
Retrieved 2026-09-23 07:22 UTCRevision 1
Source documents (7)
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, Diesel (automotive gas oil). 16 series can be drawn; 4 cannot be seen at all and are shown as labelled empty panels below.

193 published readings, 15 offsets with nothing published within one period, and 52 offsets on series we cannot see at all. Every one of them is on this page.

Europe Brent spot FOB

Unit: $ per barrelPublished: dailyCalculatedHigh
T0−30−14T0+14+30+60+90130.763.52026-01-29: 71.00 $ per barrel, used for offsets −302026-02-13: 69.96 $ per barrel, used for offsets −142026-02-20: 72.75 $ per barrel, used for offsets −72026-02-25: 70.69 $ per barrel, used for offsets −3same print as T0 — 2026-02-27, 71.32 $ per barrel, used for offsets −1, T0, +12026-03-03: 83.28 $ per barrel, used for offsets +32026-03-06: 95.74 $ per barrel, used for offsets +72026-03-13: 103.2 $ per barrel, used for offsets +142026-03-30: 121.9 $ per barrel, used for offsets +302026-04-29: 124.2 $ per barrel, used for offsets +602026-05-29: 92.88 $ 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.

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
−302026-01-2971.00-0.320-0.45%-0.23
−142026-02-1369.96-1.360-1.91%-0.99
−72026-02-2072.75+1.430+2.01%+1.04
−32026-02-2570.69-0.630-0.88%-0.46
−12026-02-27same print as T071.320.0000.00%0.00
T02026-02-27same print as T071.320.0000.00%0.00
+12026-02-27same print as T071.320.0000.00%0.00
+32026-03-0383.28+11.960+16.77%+8.68
+72026-03-0695.74+24.420+34.24%+17.72
+142026-03-13103.2+31.910+44.74%+23.16
+302026-03-30121.9+50.560+70.89%+36.70
+602026-04-29124.2+52.840+74.09%+38.35
+902026-05-2992.88+21.560+30.23%+15.65

One volatility unit for this series is 1.93%, the standard deviation of its own day-on-day percentage changes over the three years before the event (756 changes). It is not a significance test.

reported crude oil imports, all origins

Unit: tonnesPublished: monthlyCalculatedHigh
T0−30−14T0+14+30+60+907,183,6135,936,3152026-01-01: 6,797,959 tonnes, used for offsets −30same print as T0 — 2026-02-01, 6,057,021 tonnes, used for offsets −14, −7, −3, −1, T02026-03-01: 6,440,927 tonnes, used for offsets +1, +3, +7, +14, +302026-04-01: 6,331,222 tonnes, used for offsets +602026-05-01: 7,062,907 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
−302026-01-016,797,959+740,938+12.23%+1.16
−142026-02-01same print as T06,057,0210.0000.00%0.00
−72026-02-01same print as T06,057,0210.0000.00%0.00
−32026-02-01same print as T06,057,0210.0000.00%0.00
−12026-02-01same print as T06,057,0210.0000.00%0.00
T02026-02-01same print as T06,057,0210.0000.00%0.00
+12026-03-016,440,927+383,906+6.34%+0.60
+32026-03-016,440,927+383,906+6.34%+0.60
+72026-03-016,440,927+383,906+6.34%+0.60
+142026-03-016,440,927+383,906+6.34%+0.60
+302026-03-016,440,927+383,906+6.34%+0.60
+602026-04-016,331,222+274,201+4.53%+0.43
+902026-05-017,062,907+1,005,886+16.61%+1.58

One volatility unit for this series is 10.53%, 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+901.3730.7332026-01-26: 0.7950 € per litre, used for offsets −302026-02-09: 0.8099 € per litre, used for offsets −142026-02-16: 0.8158 € per litre, used for offsets −7same print as T0 — 2026-02-23, 0.8241 € per litre, used for offsets −3, −1, T0, +12026-03-02: 0.8597 € per litre, used for offsets +3, +72026-03-09: 0.9783 € per litre, used for offsets +142026-03-30: 1.211 € per litre, used for offsets +302026-04-27: 1.256 € per litre, used for offsets +602026-05-25: 1.311 € 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
−302026-01-260.7950-0.029-3.53%-0.43
−142026-02-090.8099-0.014-1.72%-0.21
−72026-02-160.8158-0.008-1.01%-0.12
−32026-02-23same print as T00.82410.0000.00%0.00
−12026-02-23same print as T00.82410.0000.00%0.00
T02026-02-23same print as T00.82410.0000.00%0.00
+12026-02-23same print as T00.82410.0000.00%0.00
+32026-03-020.8597+0.036+4.32%+0.52
+72026-03-020.8597+0.036+4.32%+0.52
+142026-03-090.9783+0.154+18.72%+2.27
+302026-03-301.211+0.387+47.00%+5.69
+602026-04-271.256+0.432+52.41%+6.35
+902026-05-251.311+0.487+59.14%+7.16

One volatility unit for this series is 8.26%, the standard deviation of its own week-on-week percentage changes over the three years before the event (155 changes). It is not a significance test.

ECB euro foreign exchange reference rate

Unit: US dollars per euroPublished: dailyCalculatedHigh
T0−30−14T0+14+30+60+901.2031.1422026-01-29: 1.197 US dollars per euro, used for offsets −302026-02-13: 1.186 US dollars per euro, used for offsets −142026-02-20: 1.177 US dollars per euro, used for offsets −72026-02-25: 1.178 US dollars per euro, used for offsets −3same print as T0 — 2026-02-27, 1.181 US dollars per euro, used for offsets −1, T0, +12026-03-03: 1.161 US dollars per euro, used for offsets +32026-03-06: 1.156 US dollars per euro, used for offsets +72026-03-13: 1.148 US dollars per euro, used for offsets +142026-03-30: 1.148 US dollars per euro, used for offsets +302026-04-29: 1.171 US dollars per euro, used for offsets +602026-05-29: 1.164 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.

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
−302026-01-291.197+0.016+1.38%+3.12
−142026-02-131.186+0.006+0.48%+1.09
−72026-02-201.177-0.004-0.32%-0.73
−32026-02-251.178-0.002-0.18%-0.40
−12026-02-27same print as T01.1810.0000.00%0.00
T02026-02-27same print as T01.1810.0000.00%0.00
+12026-02-27same print as T01.1810.0000.00%0.00
+32026-03-031.161-0.020-1.69%-3.81
+72026-03-061.156-0.024-2.07%-4.67
+142026-03-131.148-0.033-2.79%-6.29
+302026-03-301.148-0.032-2.72%-6.14
+602026-04-291.171-0.010-0.84%-1.89
+902026-05-291.164-0.016-1.36%-3.08

One volatility unit for this series is 0.44%, the standard deviation of its own day-on-day percentage changes over the three years before the event (765 changes). It is not a significance test.

direct crude Hormuz exposure D1

Unit: % of imported tonnesPublished: monthlyUnknownUnknown
T0−30−14T0+14+30+60+906.2770.0002026-01-01: 0.5329 to 1.523 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2026-02-01: 2.082 to 3.248 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2026-03-01: 1.547 to 5.396 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2026-04-01: 2.350 to 5.662 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2026-05-01: 1.500 to 3.332 % 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
−302026-01-010.5329–1.523not publishednot publishednot published
−142026-02-012.082–3.248not publishednot publishednot published
−72026-02-012.082–3.248not publishednot publishednot published
−32026-02-012.082–3.248not publishednot publishednot published
−12026-02-012.082–3.248not publishednot publishednot published
T02026-02-012.082–3.248not publishednot publishednot published
+12026-03-011.547–5.396not publishednot publishednot published
+32026-03-011.547–5.396not publishednot publishednot published
+72026-03-011.547–5.396not publishednot publishednot published
+142026-03-011.547–5.396not publishednot publishednot published
+302026-03-011.547–5.396not publishednot publishednot published
+602026-04-012.350–5.662not publishednot publishednot published
+902026-05-011.500–3.332not 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+906.6740.0002026-01-01: 0 % of imported tonnes, used for offsets −30same print as T0 — 2026-02-01, 0 % of imported tonnes, used for offsets −14, −7, −3, −1, T02026-03-01: 5.959 % of imported tonnes, used for offsets +1, +3, +7, +14, +302026-04-01: 0 to 0.0283 % of imported tonnes. No point estimate is published, so no midpoint is drawn.2026-05-01: 0 to 3.899 % 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
−302026-01-0100.000not publishednot published
−142026-02-01same print as T000.000not publishednot published
−72026-02-01same print as T000.000not publishednot published
−32026-02-01same print as T000.000not publishednot published
−12026-02-01same print as T000.000not publishednot published
T02026-02-01same print as T000.000not publishednot published
+12026-03-015.959+5.959not publishednot published
+32026-03-015.959+5.959not publishednot published
+72026-03-015.959+5.959not publishednot published
+142026-03-015.959+5.959not publishednot published
+302026-03-015.959+5.959not publishednot published
+602026-04-010–0.0283not publishednot publishednot published
+902026-05-010–3.899not 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: monthlyCalculatedHigh
T0−30−14T0+14+30+60+9095.9192.012026-01-01: 95.45 days of cover, used for offsets −30same print as T0 — 2026-02-01, 95.53 days of cover, used for offsets −14, −7, −3, −1, T02026-03-01: 95.17 days of cover, used for offsets +1, +3, +7, +14, +302026-04-01: 93.42 days of cover, used for offsets +602026-05-01: 92.39 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
−302026-01-0195.45-0.080-0.08%-0.05
−142026-02-01same print as T095.530.0000.00%0.00
−72026-02-01same print as T095.530.0000.00%0.00
−32026-02-01same print as T095.530.0000.00%0.00
−12026-02-01same print as T095.530.0000.00%0.00
T02026-02-01same print as T095.530.0000.00%0.00
+12026-03-0195.17-0.359-0.38%-0.21
+32026-03-0195.17-0.359-0.38%-0.21
+72026-03-0195.17-0.359-0.38%-0.21
+142026-03-0195.17-0.359-0.38%-0.21
+302026-03-0195.17-0.359-0.38%-0.21
+602026-04-0193.42-2.112-2.21%-1.26
+902026-05-0192.39-3.142-3.29%-1.87

One volatility unit for this series is 1.76%, 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: weeklyCalculatedMedium
T0−30−14T0+14+30+60+900.7130.3352026-01-26: 0.3714 € per litre, used for offsets −302026-02-09: 0.3742 € per litre, used for offsets −142026-02-16: 0.3817 € per litre, used for offsets −7same print as T0 — 2026-02-23, 0.3806 € per litre, used for offsets −3, −1, T0, +12026-03-02: 0.4615 € per litre, used for offsets +3, +72026-03-09: 0.5233 € per litre, used for offsets +142026-03-30: 0.6763 € per litre, used for offsets +302026-04-27: 0.6445 € per litre, used for offsets +602026-05-25: 0.5248 € 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
−302026-01-260.3714-0.009-2.40%-0.66
−142026-02-090.3742-0.006-1.68%-0.46
−72026-02-160.3817+0.001+0.29%+0.08
−32026-02-23same print as T00.38060.0000.00%0.00
−12026-02-23same print as T00.38060.0000.00%0.00
T02026-02-23same print as T00.38060.0000.00%0.00
+12026-02-23same print as T00.38060.0000.00%0.00
+32026-03-020.4615+0.081+21.26%+5.80
+72026-03-020.4615+0.081+21.26%+5.80
+142026-03-090.5233+0.143+37.50%+10.24
+302026-03-300.6763+0.296+77.69%+21.21
+602026-04-270.6445+0.264+69.35%+18.93
+902026-05-250.5248+0.144+37.88%+10.34

One volatility unit for this series is 3.66%, the standard deviation of its own week-on-week percentage changes over the three years before the event (155 changes). It is not a significance test.

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

Unit: tonnesPublished: monthlyCalculatedHigh
T0−30−14T0+14+30+60+9031,714,62430,804,9152026-01-01: 31,626,588 tonnes, used for offsets −30same print as T0 — 2026-02-01, 31,330,209 tonnes, used for offsets −14, −7, −3, −1, T02026-03-01: 31,108,595 tonnes, used for offsets +1, +3, +7, +14, +302026-04-01: 31,054,744 tonnes, used for offsets +602026-05-01: 30,892,951 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
−302026-01-0131,626,588+296,379+0.95%+0.53
−142026-02-01same print as T031,330,2090.0000.00%0.00
−72026-02-01same print as T031,330,2090.0000.00%0.00
−32026-02-01same print as T031,330,2090.0000.00%0.00
−12026-02-01same print as T031,330,2090.0000.00%0.00
T02026-02-01same print as T031,330,2090.0000.00%0.00
+12026-03-0131,108,595-221,614-0.71%-0.40
+32026-03-0131,108,595-221,614-0.71%-0.40
+72026-03-0131,108,595-221,614-0.71%-0.40
+142026-03-0131,108,595-221,614-0.71%-0.40
+302026-03-0131,108,595-221,614-0.71%-0.40
+602026-04-0131,054,744-275,465-0.88%-0.49
+902026-05-0130,892,951-437,258-1.40%-0.78

One volatility unit for this series is 1.78%, 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+900.253-0.2222026-01-26: 0.1079 € per litre, used for offsets −302026-02-09: -0.0018 € per litre, used for offsets −142026-02-16: -0.0102 € per litre, used for offsets −7same print as T0 — 2026-02-23, 0 € per litre, used for offsets −3, −1, T0, +12026-03-02: 0.0308 € per litre, used for offsets +3, +72026-03-09: 0.2071 € per litre, used for offsets +142026-03-30: 0.0774 € per litre, used for offsets +302026-04-27: -0.0554 € per litre, used for offsets +602026-05-25: -0.1764 € 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
−302026-01-260.1079+0.108not publishednot published
−142026-02-09-0.0018-0.002not publishednot published
−72026-02-16-0.0102-0.010not publishednot published
−32026-02-23same print as T000.000not publishednot published
−12026-02-23same print as T000.000not publishednot published
T02026-02-23same print as T000.000not publishednot published
+12026-02-23same print as T000.000not publishednot published
+32026-03-020.0308+0.031not publishednot published
+72026-03-020.0308+0.031not publishednot published
+142026-03-090.2071+0.207not publishednot published
+302026-03-300.0774+0.077not publishednot published
+602026-04-27-0.0554-0.055not publishednot published
+902026-05-25-0.1764-0.176not 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: weeklyCalculatedHigh
T0−30−14T0+14+30+60+902.3571.6252026-01-26: 1.696 € per litre, used for offsets −302026-02-09: 1.714 € per litre, used for offsets −142026-02-16: 1.711 € per litre, used for offsets −7same print as T0 — 2026-02-23, 1.733 € per litre, used for offsets −3, −1, T0, +12026-03-02: 1.812 € per litre, used for offsets +3, +72026-03-09: 2.163 € per litre, used for offsets +142026-03-30: 2.286 € per litre, used for offsets +302026-04-27: 2.181 € per litre, used for offsets +602026-05-25: 1.936 € 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
−302026-01-261.696-0.037-2.14%-1.66
−142026-02-091.714-0.019-1.10%-0.85
−72026-02-161.711-0.022-1.27%-0.99
−32026-02-23same print as T01.7330.0000.00%0.00
−12026-02-23same print as T01.7330.0000.00%0.00
T02026-02-23same print as T01.7330.0000.00%0.00
+12026-02-23same print as T01.7330.0000.00%0.00
+32026-03-021.812+0.079+4.56%+3.54
+72026-03-021.812+0.079+4.56%+3.54
+142026-03-092.163+0.430+24.81%+19.26
+302026-03-302.286+0.553+31.91%+24.77
+602026-04-272.181+0.448+25.85%+20.07
+902026-05-251.936+0.203+11.71%+9.09

One volatility unit for this series is 1.29%, the standard deviation of its own week-on-week percentage changes over the three years before the event (155 changes). It is not a significance test.

Weekly Oil Bulletin price without taxes

Unit: € per litrePublished: weeklyCalculatedHigh
T0−30−14T0+14+30+60+901.3470.7482026-01-26: 0.9030 € per litre, used for offsets −302026-02-09: 0.8081 € per litre, used for offsets −142026-02-16: 0.8056 € per litre, used for offsets −7same print as T0 — 2026-02-23, 0.8241 € per litre, used for offsets −3, −1, T0, +12026-03-02: 0.8905 € per litre, used for offsets +3, +72026-03-09: 1.185 € per litre, used for offsets +142026-03-30: 1.289 € per litre, used for offsets +302026-04-27: 1.201 € per litre, used for offsets +602026-05-25: 1.135 € 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
−302026-01-260.9030+0.079+9.57%+3.72
−142026-02-090.8081-0.016-1.94%-0.75
−72026-02-160.8056-0.018-2.24%-0.87
−32026-02-23same print as T00.82410.0000.00%0.00
−12026-02-23same print as T00.82410.0000.00%0.00
T02026-02-23same print as T00.82410.0000.00%0.00
+12026-02-23same print as T00.82410.0000.00%0.00
+32026-03-020.8905+0.066+8.06%+3.13
+72026-03-020.8905+0.066+8.06%+3.13
+142026-03-091.185+0.361+43.85%+17.04
+302026-03-301.289+0.465+56.39%+21.92
+602026-04-271.201+0.376+45.68%+17.76
+902026-05-251.135+0.311+37.74%+14.67

One volatility unit for this series is 2.57%, the standard deviation of its own week-on-week percentage changes over the three years before the event (155 changes). It is not a significance test.

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

Unit: € per litrePublished: weeklyCalculatedMedium
T0−30−14T0+14+30+60+901.0220.7692026-01-26: 0.7930 € per litre, used for offsets −302026-02-09: 0.9059 € per litre, used for offsets −142026-02-16: 0.9054 € per litre, used for offsets −7same print as T0 — 2026-02-23, 0.9089 € per litre, used for offsets −3, −1, T0, +12026-03-02: 0.9215 € per litre, used for offsets +3, +72026-03-09: 0.9776 € per litre, used for offsets +142026-03-30: 0.9972 € per litre, used for offsets +302026-04-27: 0.9804 € per litre, used for offsets +602026-05-25: 0.8009 € 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
−302026-01-260.7930-0.116-12.75%-8.39
−142026-02-090.9059-0.003-0.33%-0.22
−72026-02-160.9054-0.004-0.39%-0.25
−32026-02-23same print as T00.90890.0000.00%0.00
−12026-02-23same print as T00.90890.0000.00%0.00
T02026-02-23same print as T00.90890.0000.00%0.00
+12026-02-23same print as T00.90890.0000.00%0.00
+32026-03-020.9215+0.013+1.39%+0.91
+72026-03-020.9215+0.013+1.39%+0.91
+142026-03-090.9776+0.069+7.55%+4.97
+302026-03-300.9972+0.088+9.71%+6.39
+602026-04-270.9804+0.072+7.87%+5.18
+902026-05-250.8009-0.108-11.88%-7.81

One volatility unit for this series is 1.52%, the standard deviation of its own week-on-week percentage changes over the three years before the event (155 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+9071.0527.842026-01-29: 32.03 $ per barrel, used for offsets −302026-02-13: 32.27 $ per barrel, used for offsets −142026-02-20: 37.84 $ per barrel, used for offsets −72026-02-25: 43.84 $ per barrel, used for offsets −3same print as T0 — 2026-02-27, 41.49 $ per barrel, used for offsets −1, T0, +12026-03-03: 52.13 $ per barrel, used for offsets +32026-03-06: 58.90 $ per barrel, used for offsets +72026-03-13: 66.83 $ per barrel, used for offsets +142026-03-30: 66.87 $ per barrel, used for offsets +302026-04-29: 54.93 $ per barrel, used for offsets +602026-05-29: 55.17 $ 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.

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
−302026-01-2932.03-9.466-22.81%-3.77
−142026-02-1332.27-9.224-22.23%-3.68
−72026-02-2037.84-3.656-8.81%-1.46
−32026-02-2543.84+2.352+5.67%+0.94
−12026-02-27same print as T041.490.0000.00%0.00
T02026-02-27same print as T041.490.0000.00%0.00
+12026-02-27same print as T041.490.0000.00%0.00
+32026-03-0352.13+10.636+25.63%+4.24
+72026-03-0658.90+17.412+41.96%+6.94
+142026-03-1366.83+25.336+61.06%+10.10
+302026-03-3066.87+25.376+61.16%+10.12
+602026-04-2954.93+13.436+32.38%+5.36
+902026-05-2955.17+13.678+32.97%+5.45

One volatility unit for this series is 6.05%, the standard deviation of its own day-on-day percentage changes over the three years before the event (733 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+9044.976.732026-01-29: 19.97 $ per barrel, used for offsets −302026-02-13: 10.43 $ per barrel, used for offsets −142026-02-20: 11.42 $ per barrel, used for offsets −72026-02-25: 13.39 $ per barrel, used for offsets −3same print as T0 — 2026-02-27, 15.87 $ per barrel, used for offsets −1, T0, +12026-03-03: 19.87 $ per barrel, used for offsets +32026-03-06: 20.56 $ per barrel, used for offsets +72026-03-13: 25.33 $ per barrel, used for offsets +142026-03-30: 21.09 $ per barrel, used for offsets +302026-04-29: 34.94 $ per barrel, used for offsets +602026-05-29: 41.27 $ 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.

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
−302026-01-2919.97+4.100+25.83%+0.93
−142026-02-1310.43-5.444-34.30%-1.23
−72026-02-2011.42-4.454-28.06%-1.00
−32026-02-2513.39-2.478-15.61%-0.56
−12026-02-27same print as T015.870.0000.00%0.00
T02026-02-27same print as T015.870.0000.00%0.00
+12026-02-27same print as T015.870.0000.00%0.00
+32026-03-0319.87+4.000+25.20%+0.90
+72026-03-0620.56+4.686+29.52%+1.06
+142026-03-1325.33+9.460+59.60%+2.13
+302026-03-3021.09+5.216+32.86%+1.18
+602026-04-2934.94+19.064+120.11%+4.30
+902026-05-2941.27+25.396+160.01%+5.73

One volatility unit for this series is 27.92%, the standard deviation of its own day-on-day percentage changes over the three years before the event (733 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+9062.7117.062026-01-29: 23.42 $ per barrel, used for offsets −302026-02-13: 21.47 $ per barrel, used for offsets −142026-02-20: 27.04 $ per barrel, used for offsets −72026-02-25: 33.05 $ per barrel, used for offsets −3same print as T0 — 2026-02-27, 30.66 $ per barrel, used for offsets −1, T0, +12026-03-03: 41.29 $ per barrel, used for offsets +32026-03-06: 48.07 $ per barrel, used for offsets +72026-03-13: 56.03 $ per barrel, used for offsets +142026-03-30: 56.07 $ per barrel, used for offsets +302026-04-29: 58.29 $ per barrel, used for offsets +602026-05-29: 43.07 $ 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.

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
−302026-01-2923.42-7.240-23.62%-2.64
−142026-02-1321.47-9.182-29.95%-3.35
−72026-02-2027.04-3.614-11.79%-1.32
−32026-02-2533.05+2.394+7.81%+0.87
−12026-02-27same print as T030.660.0000.00%0.00
T02026-02-27same print as T030.660.0000.00%0.00
+12026-02-27same print as T030.660.0000.00%0.00
+32026-03-0341.29+10.636+34.69%+3.88
+72026-03-0648.07+17.412+56.80%+6.35
+142026-03-1356.03+25.378+82.78%+9.26
+302026-03-3056.07+25.418+82.91%+9.28
+602026-04-2958.29+27.632+90.14%+10.08
+902026-05-2943.07+12.418+40.51%+4.53

One volatility unit for this series is 8.94%, the standard deviation of its own day-on-day percentage changes over the three years before the event (733 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.

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.

Source
European Commission, Directorate-General for Energy (DG ENER)Unknown
Period 2026-01Updated 2026-09-25 14:09 UTCConfidenceUnknownMethodologyDownload CSV

T0 is 2026-02-28. 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 Strait of Hormuz shipping disruption (2026) 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 Strait of Hormuz shipping disruption (2026), 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 only1.547–5.396 % of imported tonnes at +30 d (2026-03) · no midpoint
Direct product exposure (D2)Share of imported refined product whose route requires the Strait of Hormuz.Observed5.959 % of imported tonnes at +30 d (published 2026-03-01)
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.Observed95.17 days of cover at +30 d (published 2026-03-01)-0.38% from the level at T0 = -0.21 volatility units
Crude benchmarkThe quoted crude price European cargoes are priced against.Observed121.9 $ per barrel at +30 d (published 2026-03-30)+70.89% from the level at T0 = +36.70 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.Observed31,108,595 tonnes at +30 d (published 2026-03-01)-0.71% from the level at T0 = -0.40 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.Observed1.289 € per litre at +30 d (published 2026-03-30)+56.39% from the level at T0 = +21.92 volatility units
Pump price with taxWhat a driver actually paid.Observed2.286 € per litre at +30 d (published 2026-03-30)+31.91% from the level at T0 = +24.77 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, 2026-02-21 to 2026-03-30 →

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, diesel (automotive gas oil)

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.

2026-03-232026-05-25-20020406080c/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 2026-02-23. 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 Strait of Hormuz shipping disruption (2026), crude costs alone would have moved Germany's pre-tax diesel price by +35.8 c/L (range +26.8–+44.7); it actually moved +47.4 c/L, leaving +11.6 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 28.8 $/bbl.
  • Over the 13 weeks after Strait of Hormuz shipping disruption (2026), crude costs alone would have moved Germany's pre-tax diesel price by +48.7 c/L (range +28.2–+69.3); it actually moved +31.1 c/L, leaving -17.6 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 16.0 $/bbl.

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 Strait of Hormuz shipping disruption (2026), Germany's pre-tax petrol price moved +7.4%, which is 4.1 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    0.7838546218487396
    status
    OBSERVED
    country
    Germany
    z_score
    4.207865246191953
    t0_value
    0.7300731092436975
    fuel_type
    EURO_SUPER_95
    change_pct
    7.366592732165656
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-02
    same_observation
    false
    volatility_units
    4.1090348961189385
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.05378151260504205
    change_pct_from_t0
    7.366592732165656
    observation_gap_days
    5
    normal_volatility_pct
    1.7927793066745534
    change_in_volatility_units
    4.1090348961189385
    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
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    0.7838546218487396
    status
    OBSERVED
    country
    Germany
    z_score
    4.207865246191953
    t0_value
    0.7300731092436975
    fuel_type
    EURO_SUPER_95
    change_pct
    7.366592732165656
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-02
    same_observation
    false
    volatility_units
    4.1090348961189385
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.05378151260504205
    change_pct_from_t0
    7.366592732165656
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    5
    normal_volatility_pct
    1.7927793066745534
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    4.1090348961189385

    Template event.price_move.outside_normal v1.1 · Fingerprint 79951fbcf4959f7d3b58b8f5d5a0c1f03ddd6bcbc22d934061cf4f239b79183d · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  2. In the 30 days after Strait of Hormuz shipping disruption (2026), Germany's pre-tax petrol price moved +35.7%, which is 19.9 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    0.9905773109243696
    status
    OBSERVED
    country
    Germany
    z_score
    12.188563343434453
    t0_value
    0.7300731092436975
    fuel_type
    EURO_SUPER_95
    change_pct
    35.68193354642735
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-30
    same_observation
    false
    volatility_units
    19.903137778076083
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.2605042016806721
    change_pct_from_t0
    35.68193354642735
    observation_gap_days
    0
    normal_volatility_pct
    1.7927793066745534
    change_in_volatility_units
    19.903137778076083
    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
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    0.9905773109243696
    status
    OBSERVED
    country
    Germany
    z_score
    12.188563343434453
    t0_value
    0.7300731092436975
    fuel_type
    EURO_SUPER_95
    change_pct
    35.68193354642735
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-30
    same_observation
    false
    volatility_units
    19.903137778076083
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.2605042016806721
    change_pct_from_t0
    35.68193354642735
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    1.7927793066745534
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    19.903137778076083

    Template event.price_move.outside_normal v1.1 · Fingerprint 712f6507866d4ff559cd944a2c6bb1e63b4483c26f73883de91650879d99cbcf · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  3. In the 90 days after Strait of Hormuz shipping disruption (2026), Germany's pre-tax petrol price moved +42.4%, which is 23.6 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    1.0393806722689076
    status
    OBSERVED
    country
    Germany
    z_score
    14.07265693162737
    t0_value
    0.7300731092436975
    fuel_type
    EURO_SUPER_95
    change_pct
    42.366656038821944
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-05-25
    same_observation
    false
    volatility_units
    23.631830131623023
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.3093075630252101
    change_pct_from_t0
    42.366656038821944
    observation_gap_days
    4
    normal_volatility_pct
    1.7927793066745534
    change_in_volatility_units
    23.631830131623023
    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
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    1.0393806722689076
    status
    OBSERVED
    country
    Germany
    z_score
    14.07265693162737
    t0_value
    0.7300731092436975
    fuel_type
    EURO_SUPER_95
    change_pct
    42.366656038821944
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-05-25
    same_observation
    false
    volatility_units
    23.631830131623023
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.3093075630252101
    change_pct_from_t0
    42.366656038821944
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    4
    normal_volatility_pct
    1.7927793066745534
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    23.631830131623023

    Template event.price_move.outside_normal v1.1 · Fingerprint 49e55799d79afd84a538e9e8b007617e5191001dda1ea21b3403c38d8a00d21d · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  4. In the 7 days after Strait of Hormuz shipping disruption (2026), Germany's tax-inclusive petrol price moved +3.5%, which is 3.7 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    1.8880000000000001
    status
    OBSERVED
    country
    Germany
    z_score
    3.2528628929848544
    t0_value
    1.824
    fuel_type
    EURO_SUPER_95
    change_pct
    3.5087719298245643
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-02
    same_observation
    false
    volatility_units
    3.713005246741137
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.06400000000000006
    change_pct_from_t0
    3.5087719298245643
    observation_gap_days
    5
    normal_volatility_pct
    0.9449951445407123
    change_in_volatility_units
    3.713005246741137
    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
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    1.8880000000000001
    status
    OBSERVED
    country
    Germany
    z_score
    3.2528628929848544
    t0_value
    1.824
    fuel_type
    EURO_SUPER_95
    change_pct
    3.5087719298245643
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-02
    same_observation
    false
    volatility_units
    3.713005246741137
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.06400000000000006
    change_pct_from_t0
    3.5087719298245643
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    5
    normal_volatility_pct
    0.9449951445407123
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    3.713005246741137

    Template event.price_move.outside_normal v1.1 · Fingerprint 3eac20b47193ba4638b80f6781faf84bed119ef9a99c1e6dfbce2e851fbe2070 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  5. In the 30 days after Strait of Hormuz shipping disruption (2026), Germany's tax-inclusive petrol price moved +17.0%, which is 18.0 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    2.134
    status
    OBSERVED
    country
    Germany
    z_score
    8.779983725731174
    t0_value
    1.824
    fuel_type
    EURO_SUPER_95
    change_pct
    16.99561403508771
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-30
    same_observation
    false
    volatility_units
    17.984869163902356
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.30999999999999983
    change_pct_from_t0
    16.99561403508771
    observation_gap_days
    0
    normal_volatility_pct
    0.9449951445407123
    change_in_volatility_units
    17.984869163902356
    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
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    2.134
    status
    OBSERVED
    country
    Germany
    z_score
    8.779983725731174
    t0_value
    1.824
    fuel_type
    EURO_SUPER_95
    change_pct
    16.99561403508771
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-30
    same_observation
    false
    volatility_units
    17.984869163902356
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.30999999999999983
    change_pct_from_t0
    16.99561403508771
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    0.9449951445407123
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    17.984869163902356

    Template event.price_move.outside_normal v1.1 · Fingerprint 06c9a7411bb2ea6cb207e4e73911c57a298cdd3954d15e4f2b205993b947b1b5 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  6. In the 90 days after Strait of Hormuz shipping disruption (2026), Germany's tax-inclusive petrol price moved +11.0%, which is 11.7 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    2.025
    status
    OBSERVED
    country
    Germany
    z_score
    6.330974901465527
    t0_value
    1.824
    fuel_type
    EURO_SUPER_95
    change_pct
    11.019736842105253
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-05-25
    same_observation
    false
    volatility_units
    11.661157103046364
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.20099999999999985
    change_pct_from_t0
    11.019736842105253
    observation_gap_days
    4
    normal_volatility_pct
    0.9449951445407123
    change_in_volatility_units
    11.661157103046364
    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
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    2.025
    status
    OBSERVED
    country
    Germany
    z_score
    6.330974901465527
    t0_value
    1.824
    fuel_type
    EURO_SUPER_95
    change_pct
    11.019736842105253
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-05-25
    same_observation
    false
    volatility_units
    11.661157103046364
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.20099999999999985
    change_pct_from_t0
    11.019736842105253
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    4
    normal_volatility_pct
    0.9449951445407123
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    11.661157103046364

    Template event.price_move.outside_normal v1.1 · Fingerprint 7e87e2a05fd7c878761fe25d22bfdfb160a51d742cb364defa8719d3a229c3bc · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  7. In the 7 days after Strait of Hormuz shipping disruption (2026), Germany's pre-tax diesel price moved +8.1%, which is 3.1 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    0.890489075630252
    status
    OBSERVED
    country
    Germany
    z_score
    2.151230267361193
    t0_value
    0.8241025210084033
    fuel_type
    DIESEL
    change_pct
    8.055618436965295
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-02
    same_observation
    false
    volatility_units
    3.1309151991208157
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.06638655462184873
    change_pct_from_t0
    8.055618436965295
    observation_gap_days
    5
    normal_volatility_pct
    2.5729276983379723
    change_in_volatility_units
    3.1309151991208157
    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
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    0.890489075630252
    status
    OBSERVED
    country
    Germany
    z_score
    2.151230267361193
    t0_value
    0.8241025210084033
    fuel_type
    DIESEL
    change_pct
    8.055618436965295
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-02
    same_observation
    false
    volatility_units
    3.1309151991208157
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.06638655462184873
    change_pct_from_t0
    8.055618436965295
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    5
    normal_volatility_pct
    2.5729276983379723
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    3.1309151991208157

    Template event.price_move.outside_normal v1.1 · Fingerprint 00c15bc07850566553c6982e04e89bbcbf7c36573a7cafdfb8d33a6b8c2ffda8 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  8. In the 30 days after Strait of Hormuz shipping disruption (2026), Germany's pre-tax diesel price moved +56.4%, which is 21.9 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    1.2888084033613445
    status
    OBSERVED
    country
    Germany
    z_score
    9.354819240814832
    t0_value
    0.8241025210084033
    fuel_type
    DIESEL
    change_pct
    56.38932905875707
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-30
    same_observation
    false
    volatility_units
    21.916406393845712
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.4647058823529412
    change_pct_from_t0
    56.38932905875707
    observation_gap_days
    0
    normal_volatility_pct
    2.5729276983379723
    change_in_volatility_units
    21.916406393845712
    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
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    1.2888084033613445
    status
    OBSERVED
    country
    Germany
    z_score
    9.354819240814832
    t0_value
    0.8241025210084033
    fuel_type
    DIESEL
    change_pct
    56.38932905875707
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-30
    same_observation
    false
    volatility_units
    21.916406393845712
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.4647058823529412
    change_pct_from_t0
    56.38932905875707
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    2.5729276983379723
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    21.916406393845712

    Template event.price_move.outside_normal v1.1 · Fingerprint 3c15f4a2262eb147bcd7dddd01036ff30422fb4fd861c68f843cbc1853ed3718 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  9. In the 90 days after Strait of Hormuz shipping disruption (2026), Germany's pre-tax diesel price moved +37.7%, which is 14.7 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    1.135090756302521
    status
    OBSERVED
    country
    Germany
    z_score
    6.574841794865395
    t0_value
    0.8241025210084033
    fuel_type
    DIESEL
    change_pct
    37.73659555289075
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-05-25
    same_observation
    false
    volatility_units
    14.666792066200447
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.3109882352941177
    change_pct_from_t0
    37.73659555289075
    observation_gap_days
    4
    normal_volatility_pct
    2.5729276983379723
    change_in_volatility_units
    14.666792066200447
    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
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    1.135090756302521
    status
    OBSERVED
    country
    Germany
    z_score
    6.574841794865395
    t0_value
    0.8241025210084033
    fuel_type
    DIESEL
    change_pct
    37.73659555289075
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-05-25
    same_observation
    false
    volatility_units
    14.666792066200447
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.3109882352941177
    change_pct_from_t0
    37.73659555289075
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    4
    normal_volatility_pct
    2.5729276983379723
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    14.666792066200447

    Template event.price_move.outside_normal v1.1 · Fingerprint 57a58fcc60011a674517d4f7ec75979835e48243565bc8e04d8a579446b2c7ee · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  10. In the 7 days after Strait of Hormuz shipping disruption (2026), Germany's tax-inclusive diesel price moved +4.6%, which is 3.5 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    1.812
    status
    OBSERVED
    country
    Germany
    z_score
    3.6197147380959724
    t0_value
    1.733
    fuel_type
    DIESEL
    change_pct
    4.558568955568376
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-02
    same_observation
    false
    volatility_units
    3.538577109573103
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.07899999999999996
    change_pct_from_t0
    4.558568955568376
    observation_gap_days
    5
    normal_volatility_pct
    1.2882491505514557
    change_in_volatility_units
    3.538577109573103
    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
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    1.812
    status
    OBSERVED
    country
    Germany
    z_score
    3.6197147380959724
    t0_value
    1.733
    fuel_type
    DIESEL
    change_pct
    4.558568955568376
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-02
    same_observation
    false
    volatility_units
    3.538577109573103
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.07899999999999996
    change_pct_from_t0
    4.558568955568376
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    5
    normal_volatility_pct
    1.2882491505514557
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    3.538577109573103

    Template event.price_move.outside_normal v1.1 · Fingerprint 2b25e1706ea677e56b76ade7097d037cfea80053170d1e150023c46e088fa01f · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  11. In the 30 days after Strait of Hormuz shipping disruption (2026), Germany's tax-inclusive diesel price moved +31.9%, which is 24.8 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    2.286
    status
    OBSERVED
    country
    Germany
    z_score
    13.562859021880529
    t0_value
    1.733
    fuel_type
    DIESEL
    change_pct
    31.909982688978648
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-30
    same_observation
    false
    volatility_units
    24.770039767011735
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.5529999999999999
    change_pct_from_t0
    31.909982688978648
    observation_gap_days
    0
    normal_volatility_pct
    1.2882491505514557
    change_in_volatility_units
    24.770039767011735
    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
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    2.286
    status
    OBSERVED
    country
    Germany
    z_score
    13.562859021880529
    t0_value
    1.733
    fuel_type
    DIESEL
    change_pct
    31.909982688978648
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-30
    same_observation
    false
    volatility_units
    24.770039767011735
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.5529999999999999
    change_pct_from_t0
    31.909982688978648
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    1.2882491505514557
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    24.770039767011735

    Template event.price_move.outside_normal v1.1 · Fingerprint 386f5cb07d019337eb939e4e7de60b890aaaee26331e9406e1cdcf7f097033fe · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  12. In the 90 days after Strait of Hormuz shipping disruption (2026), Germany's tax-inclusive diesel price moved +11.7%, which is 9.1 times its normal week-to-week variation over the previous three years — outside that range.

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    1.936
    status
    OBSERVED
    country
    Germany
    z_score
    6.2208748460902425
    t0_value
    1.733
    fuel_type
    DIESEL
    change_pct
    11.713791113675697
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-05-25
    same_observation
    false
    volatility_units
    9.092799408143541
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.20299999999999985
    change_pct_from_t0
    11.713791113675697
    observation_gap_days
    4
    normal_volatility_pct
    1.2882491505514557
    change_in_volatility_units
    9.092799408143541
    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
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    unit
    EUR/L
    event
    Strait of Hormuz shipping disruption (2026)
    value
    1.936
    status
    OBSERVED
    country
    Germany
    z_score
    6.2208748460902425
    t0_value
    1.733
    fuel_type
    DIESEL
    change_pct
    11.713791113675697
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-05-25
    same_observation
    false
    volatility_units
    9.092799408143541
    series_source_ids
    ["ec_weekly_oil_bulletin"]
    change_abs_from_t0
    0.20299999999999985
    change_pct_from_t0
    11.713791113675697
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    4
    normal_volatility_pct
    1.2882491505514557
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    9.092799408143541

    Template event.price_move.outside_normal v1.1 · Fingerprint e05824d7a687821faf6ad7118f777442c1c0cae0201d8d1ef2d8d10738bf4d0a · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  13. Over the 4 weeks after Strait of Hormuz shipping disruption (2026), crude costs alone would have moved Germany's pre-tax petrol price by +24.1 c/L (range +18.6–+29.6); it actually moved +25.7 c/L, leaving +1.6 c/L not explained by crude. Over the same period the US gasoline crack spread, a proxy for the Atlantic product market and not a European margin, widened by 9.9 $/bbl.

    about GermanyCalculatedMedium
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    event
    Strait of Hormuz shipping disruption (2026)
    weeks
    4
    status
    COMPUTED
    country
    Germany
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-23
    pass_through_k
    1
    proxy_from_date
    2026-02-23
    observation_date
    2026-03-23
    gap_eur_per_litre
    0.016263864025776398
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2026-02-23
    actual_eur_per_litre
    0.2571428571428571
    expected_eur_per_litre
    0.24087899311708072
    proxy_volatility_units
    2.8999750350600633
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    9.9
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    expected_low_eur_per_litre
    0.18589752536979914
    expected_high_eur_per_litre
    0.29586046086436213
    proxy_normal_volatility_pct
    27.922644296421584
    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
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    event
    Strait of Hormuz shipping disruption (2026)
    weeks
    4
    status
    COMPUTED
    country
    Germany
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-23
    pass_through_k
    1
    proxy_from_date
    2026-02-23
    statement_topic
    event
    observation_date
    2026-03-23
    gap_eur_per_litre
    0.016263864025776398
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2026-02-23
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    0.2571428571428571
    expected_eur_per_litre
    0.24087899311708072
    proxy_volatility_units
    2.8999750350600633
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    9.9
    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
    0.18589752536979914
    expected_high_eur_per_litre
    0.29586046086436213
    proxy_normal_volatility_pct
    27.922644296421584

    Template event.crude_only.computed_with_proxy v1.1 · Fingerprint 4bc7d8ee938650954c20e6ce1cab48752909f490580da590e4f248a5608f6564 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  14. Over the 13 weeks after Strait of Hormuz shipping disruption (2026), crude costs alone would have moved Germany's pre-tax petrol price by +26.2 c/L (range +12.9–+39.5); it actually moved +30.9 c/L, leaving +4.7 c/L not explained by crude. Over the same period the US gasoline crack spread, a proxy for the Atlantic product market and not a European margin, widened by 27.0 $/bbl.

    about GermanyCalculatedMedium
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    event
    Strait of Hormuz shipping disruption (2026)
    weeks
    13
    status
    COMPUTED
    country
    Germany
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-05-22
    pass_through_k
    1
    proxy_from_date
    2026-02-23
    observation_date
    2026-05-25
    gap_eur_per_litre
    0.04724630244113742
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2026-02-23
    actual_eur_per_litre
    0.3093075630252101
    expected_eur_per_litre
    0.2620612605840727
    proxy_volatility_units
    7.918982333112501
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    27.034
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    expected_low_eur_per_litre
    0.1294747735360763
    expected_high_eur_per_litre
    0.39464774763206895
    proxy_normal_volatility_pct
    27.922644296421584
    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
    2026-02-28T00:00:00+00:00
    fuel
    petrol
    event
    Strait of Hormuz shipping disruption (2026)
    weeks
    13
    status
    COMPUTED
    country
    Germany
    fuel_type
    EURO_SUPER_95
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-05-22
    pass_through_k
    1
    proxy_from_date
    2026-02-23
    statement_topic
    event
    observation_date
    2026-05-25
    gap_eur_per_litre
    0.04724630244113742
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2026-02-23
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    0.3093075630252101
    expected_eur_per_litre
    0.2620612605840727
    proxy_volatility_units
    7.918982333112501
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    27.034
    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
    0.1294747735360763
    expected_high_eur_per_litre
    0.39464774763206895
    proxy_normal_volatility_pct
    27.922644296421584

    Template event.crude_only.computed_with_proxy v1.1 · Fingerprint 62c505a195cae958f2d201c8fa1f6978d2ff13d89fc60a89bfd91ac0af49f4c5 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  15. Over the 4 weeks after Strait of Hormuz shipping disruption (2026), crude costs alone would have moved Germany's pre-tax diesel price by +35.8 c/L (range +26.8–+44.7); it actually moved +47.4 c/L, leaving +11.6 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 28.8 $/bbl.

    about GermanyCalculatedMedium
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    event
    Strait of Hormuz shipping disruption (2026)
    weeks
    4
    status
    COMPUTED
    country
    Germany
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-23
    pass_through_k
    1
    proxy_from_date
    2026-02-23
    observation_date
    2026-03-23
    gap_eur_per_litre
    0.11636212599290635
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2026-02-23
    actual_eur_per_litre
    0.473949579831933
    expected_eur_per_litre
    0.3575874538390266
    proxy_volatility_units
    10.98407307729496
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    28.757999999999996
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    expected_low_eur_per_litre
    0.2683263502833653
    expected_high_eur_per_litre
    0.44684855739469015
    proxy_normal_volatility_pct
    6.045708372099533
    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
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    event
    Strait of Hormuz shipping disruption (2026)
    weeks
    4
    status
    COMPUTED
    country
    Germany
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-23
    pass_through_k
    1
    proxy_from_date
    2026-02-23
    statement_topic
    event
    observation_date
    2026-03-23
    gap_eur_per_litre
    0.11636212599290635
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2026-02-23
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    0.473949579831933
    expected_eur_per_litre
    0.3575874538390266
    proxy_volatility_units
    10.98407307729496
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    28.757999999999996
    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
    0.2683263502833653
    expected_high_eur_per_litre
    0.44684855739469015
    proxy_normal_volatility_pct
    6.045708372099533

    Template event.crude_only.computed_with_proxy v1.1 · Fingerprint 58139ff5a6ace1c90ab6d7f4d65c8a3ca38fc1d4f7edddb849ff4a781ee9b758 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  16. Over the 13 weeks after Strait of Hormuz shipping disruption (2026), crude costs alone would have moved Germany's pre-tax diesel price by +48.7 c/L (range +28.2–+69.3); it actually moved +31.1 c/L, leaving -17.6 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 16.0 $/bbl.

    about GermanyCalculatedMedium
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    event
    Strait of Hormuz shipping disruption (2026)
    weeks
    13
    status
    COMPUTED
    country
    Germany
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-05-22
    pass_through_k
    1
    proxy_from_date
    2026-02-23
    observation_date
    2026-05-25
    gap_eur_per_litre
    -0.1764010721836855
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2026-02-23
    actual_eur_per_litre
    0.3109882352941177
    expected_eur_per_litre
    0.4873893074778032
    proxy_volatility_units
    6.106591569642946
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    15.988
    pass_through_sample_start
    2005-01-03
    pass_through_window_label
    FULL_SAMPLE
    expected_low_eur_per_litre
    0.28187390163818976
    expected_high_eur_per_litre
    0.6929047133174169
    proxy_normal_volatility_pct
    6.045708372099533
    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
    2026-02-28T00:00:00+00:00
    fuel
    diesel
    event
    Strait of Hormuz shipping disruption (2026)
    weeks
    13
    status
    COMPUTED
    country
    Germany
    fuel_type
    DIESEL
    gap_label
    NOT_EXPLAINED_BY_CRUDE
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-05-22
    pass_through_k
    1
    proxy_from_date
    2026-02-23
    statement_topic
    event
    observation_date
    2026-05-25
    gap_eur_per_litre
    -0.1764010721836855
    series_source_ids
    ["ec_weekly_oil_bulletin","eia_brent_rbrte"]
    anchor_period_start
    2026-02-23
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    actual_eur_per_litre
    0.3109882352941177
    expected_eur_per_litre
    0.4873893074778032
    proxy_volatility_units
    6.106591569642946
    pass_through_sample_end
    2026-09-14
    proxy_change_usd_per_bbl
    15.988
    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
    0.28187390163818976
    expected_high_eur_per_litre
    0.6929047133174169
    proxy_normal_volatility_pct
    6.045708372099533

    Template event.crude_only.computed_with_proxy v1.1 · Fingerprint bad46b156235bf96189b620191231503b0f1b02e17d3925c5335c705ce81c56d · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  17. Direct physical dependence on Hormuz-linked crude was limited (2%–3%) for Germany in 2026-02. 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
    2026-02-28T00:00:00+00:00
    band
    limited
    unit
    % of imported tonnes
    period
    2026-02
    status
    NO_OBSERVATION
    country
    Germany
    commodity
    crude
    dimension
    DIRECT_CRUDE
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    value_max_pct
    3.24825454625302
    value_min_pct
    2.0823226632366
    exposure_status
    RANGE_ONLY
    value_point_pct
    null
    observation_date
    2026-02-01
    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
    2026-02-28T00:00:00+00:00
    band
    limited
    unit
    % of imported tonnes
    period
    2026-02
    status
    NO_OBSERVATION
    country
    Germany
    commodity
    crude
    dimension
    DIRECT_CRUDE
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    3.24825454625302
    value_min_pct
    2.0823226632366
    exposure_status
    RANGE_ONLY
    statement_topic
    hormuz
    value_point_pct
    null
    observation_date
    2026-02-01
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.dependence.range v1.1 · Fingerprint 9e9f7a3af05375fe87ed699ca7fad393cc576e2d1917339a91807bcf10571ba7 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  18. Direct physical dependence on Hormuz-linked refined product was limited (0%) for Germany in 2026-02.

    about GermanyCalculatedLow
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    band
    limited
    unit
    % of imported tonnes
    period
    2026-02
    status
    OBSERVED
    country
    Germany
    commodity
    refined product
    dimension
    DIRECT_PRODUCT
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    value_max_pct
    0
    value_min_pct
    0
    exposure_status
    COMPUTED
    value_point_pct
    0
    observation_date
    2026-02-01
    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
    2026-02-28T00:00:00+00:00
    band
    limited
    unit
    % of imported tonnes
    period
    2026-02
    status
    OBSERVED
    country
    Germany
    commodity
    refined product
    dimension
    DIRECT_PRODUCT
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    value_min_pct
    0
    exposure_status
    COMPUTED
    statement_topic
    hormuz
    value_point_pct
    0
    observation_date
    2026-02-01
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    study_calculation_version
    event_study-1.0

    Template event.dependence.point v1.1 · Fingerprint 45777af06d39331958bc296425fbcabed2c176d0e4e267e72000718ed8fb172d · 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 2026-02 were -1.3% against the mean of the previous 12 months.

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    unit
    tonnes
    month
    2026-02
    country
    Germany
    change_pct
    -1.2732439316241755
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    partner_role
    ORIGIN
    value_tonnes
    6057021
    baseline_months
    12
    observation_date
    2026-02-01
    series_source_ids
    ["eurostat_nrg_ti_oilm"]
    baseline_mean_tonnes
    6135136.25
    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
    2026-02-28T00:00:00+00:00
    unit
    tonnes
    month
    2026-02
    country
    Germany
    change_pct
    -1.2732439316241755
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    6057021
    baseline_months
    12
    statement_topic
    event
    observation_date
    2026-02-01
    series_source_ids
    ["eurostat_nrg_ti_oilm"]
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    baseline_mean_tonnes
    6135136.25
    study_calculation_version
    event_study-1.0

    Template event.supply.no_reduction v1.1 · Fingerprint 44263dd513d73a532a7d8497d5dd6b80872b58f3d2385152b5b0536d4782177c · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  20. In 2026-02, Germany's oil stocks stood 5.0% above their trailing 12-month mean, with 95.5 days of cover (as published).

    about GermanyCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    unit
    tonnes
    month
    2026-02
    status
    OBSERVED
    country
    Germany
    direction
    above
    siec_code
    O4000
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    holder_type
    STK_CL
    series_code
    INVENTORY_DE
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    days_of_cover
    95.528
    metric_status
    COMPUTED
    mom_change_pct
    -0.937119742414199
    observation_date
    2026-02-01
    series_source_ids
    ["eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm"]
    total_stock_tonnes
    31330209
    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
    27
    trailing_12m_mean_tonnes
    29851700.25
    level_vs_trailing_12m_pct
    4.952846027589333
    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
    4.952846027589333
    level_vs_trailing_12m_pct_shown
    5
    inventory_material_deviation_pct
    5
    Inputs
    t0
    2026-02-28T00:00:00+00:00
    unit
    tonnes
    month
    2026-02
    status
    OBSERVED
    country
    Germany
    direction
    above
    siec_code
    O4000
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    95.528
    metric_status
    COMPUTED
    mom_change_pct
    -0.937119742414199
    statement_topic
    event
    observation_date
    2026-02-01
    series_source_ids
    ["eurostat_nrg_stk_oem","eurostat_nrg_stk_oilm"]
    total_stock_tonnes
    31330209
    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
    27
    trailing_12m_mean_tonnes
    29851700.25
    level_vs_trailing_12m_pct
    4.952846027589333
    study_calculation_version
    event_study-1.0
    trailing_12m_observations
    12

    Template event.inventory_level.above v1.1 · Fingerprint 6a0fc3dcf7372ba2511e6a14c43756cfc9b17f8e2e96e99a8f909ee1f8f5d434 · 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 Strait of Hormuz shipping disruption (2026): 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 limited (2–3%) 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
    2026-02-28T00:00:00+00:00
    event
    Strait of Hormuz shipping disruption (2026)
    country
    Germany
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    country_iso2
    DE
    country_name
    Germany
    country_slug
    germany
    dependence_band
    limited
    dependence_range
    2–3%
    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
    2026-02-28T00:00:00+00:00
    event
    Strait of Hormuz shipping disruption (2026)
    country
    Germany
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    limited
    statement_topic
    event
    dependence_range
    2–3%
    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 4987e88e0712283827deefd618105e454f0330c313f681768e548455a84a40ca · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  22. In the 7 days after Strait of Hormuz shipping disruption (2026), the Brent crude benchmark moved +34.2%, which is 17.7 times its normal day-to-day variation over the previous three years — outside that range.

    about the event as a wholeCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    unit
    $/BBL
    event
    Strait of Hormuz shipping disruption (2026)
    value
    95.74
    status
    OBSERVED
    z_score
    11.429511613277612
    t0_value
    71.32
    benchmark
    Brent crude
    change_pct
    34.24004486819967
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    offset_days
    7
    series_code
    BRENT
    variation_label
    day-to-day
    observation_date
    2026-03-06
    same_observation
    false
    volatility_units
    17.72499106459417
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    24.42
    change_pct_from_t0
    34.24004486819967
    observation_gap_days
    1
    normal_volatility_pct
    1.9317383429656259
    change_in_volatility_units
    17.72499106459417
    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
    2026-02-28T00:00:00+00:00
    unit
    $/BBL
    event
    Strait of Hormuz shipping disruption (2026)
    value
    95.74
    status
    OBSERVED
    z_score
    11.429511613277612
    t0_value
    71.32
    benchmark
    Brent crude
    change_pct
    34.24004486819967
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-06
    same_observation
    false
    volatility_units
    17.72499106459417
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    24.42
    change_pct_from_t0
    34.24004486819967
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    1
    normal_volatility_pct
    1.9317383429656259
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    17.72499106459417

    Template event.benchmark_move.outside_normal v1.1 · Fingerprint 4ea435198e2ad85179076b27dc38a89512f04178c41f341853cd2dbe9edcddb3 · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  23. In the 30 days after Strait of Hormuz shipping disruption (2026), the Brent crude benchmark moved +70.9%, which is 36.7 times its normal day-to-day variation over the previous three years — outside that range.

    about the event as a wholeCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    unit
    $/BBL
    event
    Strait of Hormuz shipping disruption (2026)
    value
    121.88
    status
    OBSERVED
    z_score
    20.908399390463835
    t0_value
    71.32
    benchmark
    Brent crude
    change_pct
    70.89175546831184
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    offset_days
    30
    series_code
    BRENT
    variation_label
    day-to-day
    observation_date
    2026-03-30
    same_observation
    false
    volatility_units
    36.69842539827523
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    50.56
    change_pct_from_t0
    70.89175546831184
    observation_gap_days
    0
    normal_volatility_pct
    1.9317383429656259
    change_in_volatility_units
    36.69842539827523
    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
    2026-02-28T00:00:00+00:00
    unit
    $/BBL
    event
    Strait of Hormuz shipping disruption (2026)
    value
    121.88
    status
    OBSERVED
    z_score
    20.908399390463835
    t0_value
    71.32
    benchmark
    Brent crude
    change_pct
    70.89175546831184
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-03-30
    same_observation
    false
    volatility_units
    36.69842539827523
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    50.56
    change_pct_from_t0
    70.89175546831184
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    1.9317383429656259
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    36.69842539827523

    Template event.benchmark_move.outside_normal v1.1 · Fingerprint 29bbc9c1226a318de551eedf873f282db221eb9ec716b009f1161b898b5d397c · calculation event_statements-1.0 · computed 2026-09-25 14:09 UTC

  24. In the 90 days after Strait of Hormuz shipping disruption (2026), the Brent crude benchmark moved +30.2%, which is 15.6 times its normal day-to-day variation over the previous three years — outside that range.

    about the event as a wholeCalculatedHigh
    Why this sentence
    Variables
    t0
    2026-02-28T00:00:00+00:00
    unit
    $/BBL
    event
    Strait of Hormuz shipping disruption (2026)
    value
    92.88
    status
    OBSERVED
    z_score
    10.392418306362824
    t0_value
    71.32
    benchmark
    Brent crude
    change_pct
    30.22994952327538
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    offset_days
    90
    series_code
    BRENT
    variation_label
    day-to-day
    observation_date
    2026-05-29
    same_observation
    false
    volatility_units
    15.64909121018224
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    21.560000000000002
    change_pct_from_t0
    30.22994952327538
    observation_gap_days
    0
    normal_volatility_pct
    1.9317383429656259
    change_in_volatility_units
    15.64909121018224
    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
    2026-02-28T00:00:00+00:00
    unit
    $/BBL
    event
    Strait of Hormuz shipping disruption (2026)
    value
    92.88
    status
    OBSERVED
    z_score
    10.392418306362824
    t0_value
    71.32
    benchmark
    Brent crude
    change_pct
    30.22994952327538
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-05-29
    same_observation
    false
    volatility_units
    15.64909121018224
    series_source_ids
    ["eia_brent_rbrte"]
    change_abs_from_t0
    21.560000000000002
    change_pct_from_t0
    30.22994952327538
    calculation_version
    event_statements-1.0
    methodology_version
    1.0
    observation_gap_days
    0
    normal_volatility_pct
    1.9317383429656259
    study_calculation_version
    event_study-1.0
    change_in_volatility_units
    15.64909121018224

    Template event.benchmark_move.outside_normal v1.1 · Fingerprint da6e291650428ea4feda72840b110dea4b3e2942f69e01f932de816d3716527d · 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
    2026-02-28T00:00:00+00:00
    channels
    ["freight rates"]
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-02-28T00:00:00+00:00
    channels
    ["freight rates"]
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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 cbf9fd2371d9caad14a75cea5013e1be30bd2eb2033908f832c88c88067f87e7 · 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
    2026-02-28T00:00:00+00:00
    channels
    ["refined-product benchmark"]
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-02-28T00:00:00+00:00
    channels
    ["refined-product benchmark"]
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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 8af490b1ea34e00f40494098d666c15e05cfca35931abd7a50a334f8e61f0d3e · 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
    2026-02-28T00:00:00+00:00
    channels
    ["wholesale prices"]
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-02-28T00:00:00+00:00
    channels
    ["wholesale prices"]
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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 cb537d4c961760559b281257dfa2ff078da30874030ebc0d45438e5b240ce371 · 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
    2026-02-28T00:00:00+00:00
    channels
    ["refining margin"]
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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
    2026-02-28T00:00:00+00:00
    channels
    ["refining margin"]
    event_name
    Strait of Hormuz shipping disruption (2026)
    event_slug
    hormuz-2026
    event_type
    HORMUZ_DISRUPTION
    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 c3272c131b1b047dc850145474462c0a9daea21ea6429e3edc6c8e07abc867e8 · 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.