The tightening supply follows Ukrainian drone strikes on Russian refineries and shipping bottlenecks around the Strait of Hormuz. Shortages are most severe in the Central Atlantic, where inventories of 9.3 million barrels are less than one third of the prior decade's norms, while PADD1A distillate stocks have fallen 49% from two years ago. Market analysts warn that approaching winter will increase competition between diesel and heating oil for available supply.
Tuesday, October 20, 2026
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NYMEX Diesel Futures Hit $4.90 on Century Low US Stocks
Commodities4 days ago
NYMEX diesel November futures settled at $4.8991 a gallon on Oct. 16, continuing a climb from approximately $4.50 in early October. US distillate inventories have reached their lowest levels ever recorded for this specific week of the year this century and have remained 13 weeks below their normal range during 2026. Total US distillate supplies are 12% lower than last year's levels, with stocks on the East Coast down more than 22%.
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