Can Europe Beat the Heat Without More Air Conditioners?

With Europe facing more frequent and hotter heatwaves, the uptake of air conditioning systems has soared across the region in recent years. This trend is driving energy demand and making it more difficult for countries to reduce reliance on fossil fuels in favour of renewable alternatives. Several countries across Europe have made ambitious green transition pledges, which is why many governments, companies, and researchers are exploring alternative, less carbon-intensive methods for cooling. Researchers have been investigating alternative cooling…

Refining & Products Context

Downstream margins — or crack spreads — have experienced considerable volatility as refinery operators navigate feedstock cost fluctuations, product demand seasonality, and evolving fuel specifications. Gasoline and distillate margins serve as key profitability levers for integrated refiners.

Refinery utilization rates, particularly in the U.S. Gulf Coast and Northwest European hubs, directly influence product availability and pricing. Unplanned outages, scheduled turnarounds, and weather-related disruptions are recurring factors that tighten regional product supply.

What to Watch

Key metrics to watch include refinery utilization rates, weekly distillate inventory builds or draws, and crack spread movements, which serve as real-time indicators of refining profitability across major processing hubs.