The US shipped a record 1.9 million barrels per day of distillate fuel last week as domestic inventories kept falling, according to the Energy Information Administration. Conflict-driven supply disruptions abroad have left the US as one of the few producers with spare capacity to export diesel and heating oil, even as stockpiles at home hit their lowest seasonal level since 1996.
The United States exported 1.9 million barrels per day of distillate fuel last week, a new record, according to data released Wednesday by the US Energy Information Administration. The figure surpassed the previous record set in May. Distillate fuel covers diesel, heating oil, and other related products.
Last week marked the fifth consecutive week with exports exceeding 1.5 million barrels per day. This sustained outflow has reduced the country's fuel supplies even though refiners are running at maximum capacity to produce diesel.
Global diesel markets have faced disruptions since the start of the US-Iran conflict, which has prevented crude oil and refined product shipments from passing through the Strait of Hormuz. The situation intensified after months of Ukrainian strikes on Russian refineries, which reduced fuel production capacity and led Moscow to ban most diesel exports. These developments have positioned the US as one of the few global diesel producers with sufficient capacity to manufacture and export fuel.
Distillate fuel inventories in the US reached their lowest seasonal level since 1996 as of last week. The depleted stockpiles raise concerns ahead of the fall season, when demand for heating oil increases in the Northeast US and other regions.
Source: Commodities & Futures News
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