The next oil shock

The River Rhine at Kaub, south-western Germany, is not the strait of Hormuz, but has become a bottleneck for oil transport because of the heatwave. Europe's extreme weather affects supply chains.

Not only do wars and the closure of maritime sea routes cause troubles to petroleum transport. So do heat waves and the low water levels of rivers. The southwestern German town of Kaub, for example, is a bottleneck for shipping on the river Rhine in Germany. The low levels of water due to the heat wave are now forcing boats to ship with less than half o…