EIA: PADD 1 Distillate Stocks Nears 11-Month Low


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. East Coast distillate fuel oil stocks have neared 
11-month lows after dropping for a second consecutive week last week, data from 
the U.S. Energy Information Administration (EIA) showed Thursday (5/28).

   Gasoline hit a five-month bottom and jet oil inventories dropped as well in 
the PADD 1 region, while crude balances rose.

   Distillate inventories in East Coast slid by 300,000 bbl to 23.7 million 
during the week ended May 22, the EIA said in its Weekly Petroleum Status 
Report. That made it the lowest balance for distillates since the week ended 
July 11, when they stood at 23.6 million.

   For the year though, PADD 1 distillate stocks were a notch higher, at 23.7 
million bbl versus the 23.6 million seen during the same week of 2025. 
Distillate imports were more than halved during the reference week, falling to 
61,000 bpd from the prior weekly level of 125,000, and was also lower than the 
year-on-year figure of 90,000.

   In gasoline, East Coast stocks fell by 2.1 million bbl to 53.2 million bbl. 
That was for the lowest inventory for the product on PADD 1 since the week 
ended December 19, when it stood at just above 53 million. Current gasoline 
inventories are also lower from the year ago level of 55.2 million.

   In imports, East Coast gasoline saw 367,000 bpd versus the prior week's 
457,000 and 516,000 from a year ago.

   Jet fuel inventories in PADD 1 slipped by 100,000 bbl to 11.2 million while 
staying higher than the 10.8 million year-ago level. East Coast imports of jet 
fuel were at 17,000 bpd versus 13,000 bpd from both a week and year ago.

   Crude stocks on the East Coast were at 8.6 million bbl week-over-week, up 
900,000  on the week while sliding 100,000 on the year. Imports for this in 
PADD 1 were at 251,000 bpd during the reference week, versus 303,000 the week 
prior and 586,000 a year ago.

   Refinery utilization on the East Coast declined to 85.4% from 89.3% the 
previous week, with crude oil inputs dropping by 48,000 bpd to 778,000 bpd, the 
EIA reported.

    




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