US distillate inventories fell 3.6 million barrels to 99.3 million in the week ending October 30, 13% below the five-year average and the first time below 100 million since 2003. Diesel output declined despite higher refinery utilization, while diesel prices remained elevated; the Department of Energy lent 300,000 barrels from the Northeast heating-oil reserve.
Tight distillate inventories and strong demand support diesel prices and can raise feed and grain transport costs. The reserve release may provide limited near-term relief.
After 109 past bullish report events, ULSD / Diesel moved a median +0.2% over 5 sessions (51% higher; middle half -3.3% to +3.9%), and +0.3% over 20.
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.