This week’s petroleum status report from the EIA (http://www.eia.gov/petroleum/supply/weekly/) shows distillate demand +12.7% from last year based on the 4 week average ending December 23rd… The diesel crack chart from barchart.com reflects this:
Note that diesel prices were rallying more than crude going into the OPEC meeting, so, perhaps demand for distillates is picking up due to economic reasons as well as cold weather…
And from a days supply measure, the story is the same, that is, distillate stocks are “tightening”:
Leave a Reply