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U.S. distillate inventories rose 3 million barrels between Oct. 7 and Nov.
18, against a normal seasonal drawdown, according to the EIA. Stocks remain about 21 million barrels below the pre-pandemic five-year seasonal average, though that gap has narrowed.
Weaker exports and a slowing domestic demand for diesel are cited as the drivers.
Rebuilding inventories and softer export pull reduce the risk of a winter diesel squeeze, which lowers pressure on freight and feed transport costs. The price implication is bearish for diesel.
hydrocarbonprocessing.comNov 24, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
