ULTRA-LOW DISTILLATE FUTURES PARE GAINS AFTER API SAYS DISTILLATE INVENTORIES BUILT MORE THAN EXPECTED
|
|
The outlook for freight-related distillate demand, which accounts for most distillate consumption, is increasingly uncertain (tmsnrt.rs/1n20153dQBu).
|
|
Because so much distillate is used in industry and freight transportation, distillate consumption is heavily geared toward the economic cycle.
|
|
The fact that refiners have lost control of distillate stocks should come as no surprise because distillate is essentially a by-product of gasoline production.
|
|
The better margins are a result of lower distillate fuel inventory levels, strong demand for U.S. distillate exports, and the expectation of close-to-normal temperatures, EIA said.
|
|
In the last four weeks, distillate stocks have also stopped tightening compared with the seasonal trend, as record refinery runs and distillate production have finally caught up with demand.
|
|
"The refiners are refining more this year because they want more distillate, but to get more distillate they're producing more gasoline," said Matt Smith, director of commodity research at ClipperData.
|
|
The impact on distillate supplies, a co-product of gasoline making, and a much smaller market, could be more significant, as lower gasoline production implies a reduction in distillate output.
|
|
LONDON (Reuters) - U.S. refineries are struggling to meet booming demand for distillate fuel oil at home and in export markets which will leave the distillate market very tight in 2018.
|
|
"At an 80 percent compliance rate, we model that the market can reach equilibrium at a distillate-HSFO spread near current forwards, although at higher distillate cracks," Goldman Sachs said.
|
|
Portfolio managers have become more bearish on the outlook for distillate prices than for either crude or gasoline, likely reflecting concerns about the impact of a slowing economy on distillate consumption.
|
|
Recent moves in distillate stocks are therefore consistent with other indicators showing the global economy slowing sharply since the middle of 2018 and are starting to weigh on distillate and crude oil prices.
|
|
Gasoline and distillate futures fell more than 2 percent each.
|
|
Gasoline and distillate inventories both fell by more than expected.
|
|
"We need to export large quantities of distillate," he said.
|
|
Overall, distillate inventories have been trending downward in recent weeks.
|
|
However, it said gasoline and distillate inventories were down sharply.
|
|
However, it said gasoline and distillate inventories were down sharply.
|
|
Distillate stocks fell by 3.2 million barrels, the data showed.
|
|
CRISIS AVERTED Distillate consumption is closely correlated with the economic cycle, so the slowdown in global manufacturing and trade during 2018/19 has taken much of the predicted heat out of the distillate market.
|
|
Morgan Stanley predicts this will generate at least 1.5 million bpd in extra demand for distillate in the next three years, pushing up total distillate demand growth for the period to 3.2 million bpd.
|
|
Distillate futures settled down 3 percent too, hitting two-week lows.
|
|
The bank expects new IMO rules to provide tailwind to distillate demand in 73, and with inventories still well below 5-year average on a days of demand basis, it sees tight distillate environment next year.
|
|
Gasoline and distillate demand has been strong, with motor gasoline product supplied over the past four weeks rising 2000 percent from the year-ago period, and distillate fuels seeing a 15.3 percent increase from a year ago.
|
|
Distillate stocks reached their lowest levels since November 2015, the EIA said.
|
|
It's a petroleum distillate commonly used as fuel for Zippo-style lighters.
|
|
Distillate margins were at $25.34 a barrel, the highest seasonally since 2014.
|
|
U.S. distillate and gasoline inventories rose, however, even as refining activity fell.
|
|
That will affect the timing of distillate deliveries as well, Colonial said.
|
|
The key to making a potent cannabis distillate begins with the bud.
|
|
Gasoline stocks also fell sharply, while distillate inventories increased, the API said.
|
|
He uses racism because that's the pure distillate of German romantic egotism.
|
|
This is not an "e-cigarette" this is a THC Distillate pen.
|
|
Distillate supplies were expected to become especially tight this time with the introduction of new regulations that will force many ship owners to switch from heavy fuel oil to cleaner distillate fuel oil from the start of 2020.
|
|
"With the distillate inventory correction at a somewhat speedier pace than gasoline, we expect distillate to come close to or even fully correct the imbalance by the end of the year," Barclays said in a research note on Wednesday.
|
|
Distillate demand slipped 0.5 percent or 20,000 bpd to nearly 4 million bpd.
|
|
Still, the U.S. Energy Information Administration also said gasoline and distillate inventories rose.
|
|
Distillate stocks also dropped by the most since October 2014, EIA data added.
|
|
Distillate fuel inventories, which include heating oil, totaled 35.5 million barrels on Sept.
|
|
"IMO regulations are positive because of our mid-distillate configuration," said Reliance's Srikanth.
|
|
Related columns: "Distillate fuel oil market set to tighten in 2018", Reuters, Nov.
|
|
Middle distillate stocks dropped to 12.89 million barrels in the week to Oct.
|
|
Heading into the winter, distillate stocks are at their highest seasonally since 2010.
|
|
The API said distillate stocks rose by 4.3 million barrels, more than expected.
|
|
"A lot of distillate goes from Asia to Latin America," one trader said.
|
|
U.S. gasoline and distillate inventories drew more than expected, the data also showed.
|
|
Gasoline stocks rose by 312,000 barrels, while distillate supplies grew by 2.6 million barrels.
|
|
The high distillate supply has pushed cash differentials in the region lower, traders said.
|
|
Distillate inventories, which include diesel and heating oil, were seen down 2.1 million barrels.
|
|
U.S. Gulf Coast distillate inventories rose by 71,000 barrels in the week to Jan.
|
|
Gasoline stocks fell by 4.7 million barrels, exceeding expectations, while distillate stocks also fell.
|
|
Heavy run rates, if sustained, should reduce the prospect of distillate shortages this winter.
|
|
Distillate fuel exports jumped to 1.46 million bpd from 1.15 million bpd in March.
|
|
The global manufacturing and freight downturn has ensured the distillate market is weak worldwide.
|
|
Most demand is expected to shift to marine gasoil, a lower sulfur distillate fuel.
|
|
Shanahan wandered over to the stills and filled a little cup with second distillate.
|
|
In the midwest, distillate stocks rose 471,000 barrels to their highest level on record.
|
|
The global manufacturing and freight downturn has ensured the distillate market is weak worldwide.
|
|
A mild winter led to swelling distillate stockpiles, resulting in a rare winter occurrence where heating oil traded at a discount to gasoline, catching refiners off-guard at a time when they typically increase distillate production to meet high demand for heating oil.
|
|
HEATING OIL FUTURES EXTEND LOSSES AFTER EIA DATA SHOW SURPRISE BUILD IN U.S. DISTILLATE STOCKPILES
|
|
HEATING OIL FUTURES EXTEND LOSSES AFTER EIA DATA SHOW SURPRISE DRAW IN U.S. DISTILLATE STOCKPILES
|
|
The distillate line has been since reopened and parts of the gasoline line are operating.
|
|
However, gasoline stocks rose by 312,000 barrels and distillate supplies grew by 2.6 million barrels.
|
|
The result is that distillate futures prices have moved into a small but persistent backwardation.
|
|
HEATING OIL FUTURES EXTEND GAINS AFTER EIA DATA SHOW SURPRISE DRAW IN U.S. DISTILLATE INVENTORIES
|
|
Gasoline stocks fell by 4.6 million barrels, while distillate inventories fell by 4.1 million barrels.
|
|
Singapore's onshore inventories for middle distillate rose by 31,000 barrels in the week to Feb.
|
|
And now, I take that even further, and use a distillate, which has no flavor.
|
|
EIA said distillate stocks decreased 2.1 million barrels and gasoline stocks declined 4.4 million barrels.
|
|
Differential growth in light and middle distillate consumption is not a new problem (tmsnrt.rs/22017QN22018usW).
|
|
Distillate stockpiles, which include diesel and heating oil, rose 4.1 million barrels, said the EIA.
|
|
Singapore's onshore inventories for middle distillate rose by 211,212 barrels in the week to Feb.
|
|
The margin to produce distillate products is at $14.95 a gallon, a relatively healthy margin.
|
|
HEATING OIL FUTURES EXTEND GAINS AFTER EIA DATA SHOW SURPRISE DRAW IN U.S. DISTILLATE STOCKPILES
|
|
The margin to produce distillate products is at $14.95 a gallon, a relatively healthy margin.
|
|
U.S. distillate stockpiles last week climbed to the highest seasonally since 0003, with a notable build on the East Coast, while the four-week average for distillate demand dropped unseasonably last week to its lowest since 2017, according to U.S. Energy Information Administration data.
|
|
Distillate stocks fell by 1.5 million barrels, but gasoline inventories surprisingly rose by 2.5 million barrels.
|
|
The company said its main gasoline and distillate lines - lines 1 and 2 - were operating normally.
|
|
The distillate crack spread had jumped 22009 percent, then gave up most of the day's gains.
|
|
Gasoline stocks fell by 596,000 barrels, while distillate inventories fell by 159,000 barrels, the data showed.
|
|
Several traders and analysts expect Colonial to move gasoline on its distillate line as repairs continue.
|
|
Gulf Coast distillate fuel oil inventories have fallen for four consecutive weeks, according to EIA data.
|
|
U.S. distillate and gasoline futures expire on Friday, which could add to price swings, analysts noted.
|
|
At the same time, distillate demand was strong, he said, offsetting the downward pressure on crude.
|
|
HEATING OIL FUTURES EXTEND GAINS SLIGHTLY AFTER EIA DATA SHOW SURPRISE BUILD IN U.S. DISTILLATE STOCKPILES
|
|
HEATING OIL FUTURES FALL AFTER EIA DATA SHOWS LARGER-THAN-EXPECTED DRAW IN U.S. DISTILLATE INVENTORIES
|
|
However, gasoline and distillate inventories extended their declines even as refiners ramped up production, it said.
|
|
Heating accounts for only a small proportion of distillate fuel oil consumption in the United States.
|
|
Demand for products has been very strong," including gasoline and distillate, he told CNBC's "Futures Now.
|
|
Gasoline and distillate stocks, which include diesel and heating oil, were also down, the API said.
|
|
Lower U.S. distillate inventories have raised concerns about tighter supplies going into the winter demand season.
|
|
The crucial ingredient is bagoong, fermented baby shrimp that tastes like a distillate of the ocean.
|
|
The distillate crack spread had jumped 229 percent, then gave up most of the day's gains.
|
|
U.S. crude, gasoline and distillate stocks rose last week, the Energy Information Administration said on Wednesday.
|
|
U.S. HEATING OIL FUTURES EXTEND GAINS ON A BIGGER THAN EXPECTED WEEKLY DISTILLATE STORAGE DRAW - EIA
|
|
Gasoline stocks rose 1.8 million barrels, while distillate stockpiles climbed 3.1 million barrels, the EIA said.
|
|
From July 1, 2019, Singapore will extend the mandatory use of MFMs to bunker barges delivering distillate fuels ahead of an expected pick-up in the demand for distillate fuels to meet global caps on sulphur content in bunker fuels which will come into effect from 2020.
|
|
HEATING OIL FUTURES EXTEND LOSSES AFTER EIA DATA SHOW LARGER-THAN-EXPECTED BUILD IN U.S. DISTILLATE STOCKPILES
|
|
Distillate product, which includes diesel and heating oil, was off by 12% from the year-ago period.
|
|
U.S. gasoline stockpiles ticked down slightly, while distillate fuel stocks fell by 3.6 million barrels, EIA said.
|
|
Motor gasoline stocks also fell 1.2 million barrels, and distillate fuel inventories were down 1.6 million barrels.
|
|
HEATING OIL FUTURES LITTLE CHANGED AFTER EIA DATA SHOW SMALLER-THAN-EXPECTED DRAW IN U.S. DISTILLATE INVENTORIES
|
|
It was the biggest weekly build since January and put distillate stocks at six-year seasonal highs.
|
|
Distillate stockpiles soared 8.4 million barrels, versus expectations for a 899,000-barrel increase, the EIA data showed.
|
|
U.S. HEATING OIL FUTURES EXTEND LOSSES AFTER EIA DATA SHOWS BIGGER-THAN-EXPECTED BUILD IN DISTILLATE INVENTORIES
|
|
U.S. East Coast stockpiles of distillate fuels reached their highest seasonally since 2010, according to the data.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, were likely down by 2.8 million barrels.
|
|
U.S. refiners have responded by increasing crude processing and distillate production to unprecedented levels to meet demand.
|
|
Overall distillate inventories of 171 million barrels stands at a seasonal high for the century as well.
|
|
HEATING OIL FUTURES PARE LOSSES AFTER EIA DATA SHOW LARGER-THAN-EXPECTED DRAW IN U.S. DISTILLATE INVENTORIES
|
|
Refiners built up distillate stocks over the summer as they pushed their plants to pump out gasoline.
|
|
Gasoline stocks USOILG=ECI fell 1.8 million barrels, while distillate stockpiles USOILD=ECI dipped by 23,000 barrels.
|
|
Synchronized global growth provided a big boost to middle distillate consumption in 2017 tightening the market considerably.
|
|
U.S. HEATING OIL FUTURES TURN NEGATIVE AFTER EIA DATA SHOWS SMALLER-THAN-EXPECTED DRAW IN DISTILLATE INVENTORIES
|
|
We pick and choose specifically what distillate we want in terms of flavor profile, proof, and aroma.
|
|
The terpene distillate is then reintroduced into the ultra-pure oil using a short path distillation instrument.
|
|
U.S. distillate fuel use, which includes diesel, fell 175,000 bpd to 3.98 million bpd in the month.
|
|
HEATING OIL FUTURES HOLDING STEADY AFTER EIA DATA SHOW LARGER-THAN-EXPECTED BUILD IN U.S. DISTILLATE STOCKPILES
|
|
HEATING OIL FUTURES EXTEND LOSSES AFTER EIA DATA SHOW LARGER-THAN-EXPECTED BUILD IN U.S. DISTILLATE INVENTORIES
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, were seen down by 2.3 million barrels.
|
|
Meanwhile, gasoline inventories rose by 4.8 million barrels and distillate fuel stocks jumped by 8.9 million barrels.
|
|
Colonial's main gasoline and distillate line was shut on Friday after a 6,000-barrel leak in Alabama.
|
|
Prices had fallen earlier on data showing a surprisingly large increase in U.S. gasoline and distillate inventories.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 2.7 million barrels, three times more than forecast.
|
|
Instead, crude stocks rose last week as refiners cut output, amid a drawdown in gasoline and distillate inventories.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 151,000 barrels, versus expectations for a 257,000-barrel increase.
|
|
That decline had accelerated on Wednesday after data showed U.S. crude and distillate stockpiles increased more than expected.
|
|
However, it would cut gasoline supplies by 615,000 to 785,000 bpd and reduce distillate supplies by 700,000 bpd.
|
|
HEATING OIL FUTURES SLIGHTLY EXTEND GAINS AFTER EIA DATA SHOW SMALLER-THAN-EXPECTED DRAW IN U.S. DISTILLATE STOCKPILES
|
|
EIA data showed a draw of 3.2 million barrels in crude and builds in gasoline and distillate inventories.
|
|
HEATING OIL FUTURES BRIEFLY TURN NEGATIVE AFTER EIA DATA SHOW LARGER-THAN-EXPECTED DRAW IN U.S. DISTILLATE INVENTORIES
|
|
Gasoline stocks USOILG=ECI rose by 312,000 barrels, while distillate supplies USOILD=ECI grew by 2.6 million barrels.
|
|
Distillate stockpiles in the region totaled 33.4 million barrels in the week to April 26, EIA data showed.
|
|
Gasoline stocks fell by 1.5 million barrels, while distillate fuel inventories were down 1.3 million barrels, EIA said.
|
|
Gasoline and distillate days of supply are at the low end of the five-year average, Heminger noted.
|
|
Distillate stockpiles rose by 5.7 million barrels, versus expectations for a 613,000-barrel increase, the EIA data showed.
|
|
HEATING OIL FUTURES PARE GAINS AFTER EIA DATA SHOW MUCH LARGER-THAN-EXPECTED BUILD IN U.S. DISTILLATE INVENTORIES
|
|
China and India are both experiencing strong growth in gasoline consumption but much weaker growth in distillate demand.
|
|
U.S. distillate inventories fell to 125.6 million barrels, the lowest weekly figure since February 2015, EIA data showed.
|
|
The result was an unusual slowdown in distillate consumption from mid-November and a corresponding rise in stockpiles.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, were also lower, dropping by 2.3 million barrels.
|
|
Front month U.S. distillate and gasoline futures expire on Friday, which could add to price swings, analysts noted.
|
|
Distillate stockpiles, which include diesel and heating oil, were up 1.4 million barrels, slightly below a consensus forecast.
|
|
He expected WTI to "move back below $49 this week", citing worries over gasoline and distillate inventories too.
|
|
U.S. government data showed substantial drawdowns in gasoline and distillate fuel inventories headed into the winter fuel season.
|
|
The use of MFMs for distillate deliveries will be made compulsory from July 1, 2019, the MPA said.
|
|
Goldman Sachs analysts said gasoline and distillate product refining margins were likely to rise more after the storm.
|
|
Sellers can open and tamper with these distillate vials, adding other ingredients to make their supply last longer.
|
|
Massive overproduction of distillate has pushed gross refining margins for the fuel to the lowest level since 2010.
|
|
The fourth bottle in the Empirical collection is their base distillate, which was never intended for public consumption.
|
|
Oil prices were underpinned by signs of strong U.S. demand for distillate products and tightening global crude supply.
|
|
In one of the few bullish spots, distillate fuel inventories fell by 1 million barrels, the EIA said.
|
|
Distillate fuel inventories, which include diesel and heating oil, fell by 1.9 million barrels, in line with estimates.
|
|
U.S. residential use of distillate fuel has halved over the past three decades as households switched to natural gas.
|
|
Distillate exports from the United States have boomed to meet strong demand from Latin America and other emerging markets.
|
|
Demand for distillate fuel, which includes diesel, rose 10,000 barrels per day versus last year to 3.922 million bpd.
|
|
U.S. distillate demand rose by 6 percent year-over-year in May to 3.97 million bpd, EIA data showed.
|
|
Gasoline stocks fell 1.4 million barrels, while distillate stockpiles drew down by 3.6 million barrels, the EIA data showed.
|
|
Distillate consumption at home has been more mixed but fairly strong and exports have been running at record levels.
|
|
HEATING OIL FUTURES PARE GAINS IN POST-SETTLEMENT TRADE AFTER API DATA SHOW SURPRISE BUILD IN U.S. DISTILLATE INVENTORIES
|
|
HEATING OIL FUTURES HOLD GAINS IN POST-SETTLEMENT TRADE AFTER API DATA SHOW SURPRISE BUILD IN U.S. DISTILLATE STOCKPILES
|
|
The distillate crack spread, a measure of the profit from refining crude into distillates, touched a one-month low.
|
|
HEATING OIL FUTURES HOLD LOSSES IN POST-SETTLEMENT TRADE AFTER API DATA SHOW SURPRISE DRAW IN U.S. DISTILLATE INVENTORIES
|
|
Prices pared gains after inventory data from the U.S. Energy Information Administration showed builds in gasoline and distillate stocks.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.9 million barrels, versus expectations for a 14,000-barrel decline.
|
|
"(Angolan oil's) fate will also depend on distillate prices in the next few months," added Ul-Haq of Refinitiv.
|
|
Gasoline stocks also fell, the API data showed, but less than expected, and distillate inventories rose more than forecast.
|
|
"The big rise in distillate inventories should weigh, as the category assumes the mantle of seasonal leadership," Kilduff added.
|
|
U.S. Midwest distillate inventories fell to 24.7 million barrels, the lowest weekly figure since November 2014, EIA data showed.
|
|
HEATING OIL FUTURES LITTLE CHANGED IN POST-SETTLEMENT TRADE AFTER API DATA SHOW SURPRISE DRAW IN U.S. DISTILLATE STOCKPILES
|
|
SINGAPORE INVENTORIES - Singapore onshore middle distillate stocks rose 212 percent to 211 million barrels in the week to Feb.
|
|
U.S. distillate demand was up 6 percent to 4.06 million bpd in December versus last year, EIA data showed.
|
|
SINGAPORE INVENTORIES - Singapore onshore middle distillate stocks fell 1.4 percent to 23 million barrels in the week to Feb.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.1 million barrels, inline with expectations, the EIA data showed.
|
|
Portfolio managers have solid fundamental reasons to think middle distillate prices and refining margins will increase further in 93.
|
|
Distillate supplied averaged 4.1 million bpd, significantly higher than in 2016, though still below the record set in 2007.
|
|
Inventories of distillate fuels like diesel and heating oil rose by 4.4 million barrels, 15 times the anticipated rise.
|
|
The futures markets responded by pricing in a much higher level of distillate stocks over the next six months.
|
|
"Tempering some of that weakness is the record exports of crude oil and distillate fuel last week," he said.
|
|
Complex U.S. Gulf Coast refiners use heavy crude as part of a mix to create high-margin distillate products.
|
|
Exports are set to remain strong given the chronic shortage of distillate refining capacity across Central and South America.
|
|
Refiners have been running at high rates due to surprisingly strong distillate demand and heavy demand for U.S. exports.
|
|
Refineries have operated to maximize gasoline production but in the process created an enormous and growing oversupply of distillate.
|
|
Distillate supplied averaged 4.1 million bpd, significantly higher than in 22, though still below the record set in 2007.
|
|
Midwest distillate stockpiles are at 32.6 million barrels, the most seasonally since 2017, U.S. Energy Information Administration data shows.
|
|
HEATING OIL FUTURES PARE GAINS IN POST-SETTLEMENT TRADE AFTER API DATA SHOW SURPRISE DRAW IN U.S. DISTILLATE STOCKPILES
|
|
But the distillate slowdown cannot be wholly or mainly attributed to the farm sector's severe weather problems (tmsnrt.rs/2FPNnDi).
|
|
Low demand has eroded distillate margins across the globe, prompting speculation that some refiners could start reducing processing rates.
|
|
Oil prices climbed nearly 2 percent overnight to a six-week peak on a surprising drop in distillate inventories.
|
|
Distillate stocks look severely depleted even before the main winter heating season begins in North America and Western Europe.
|
|
U.S. distillate demand remained strong, rising 2.9 percent year-on-year to 3.99 million bpd in August, the data showed.
|
|
Looking forward, the outlook for distillate consumption and prices is split between IMO regulations (bullish) and the slowing economy (bearish).
|
|
Strong gasoline margins are incentivising refiners to produce as much as possible, making excess distillate as an unwanted co-product.
|
|
The agency also found that U.S. gasoline stockpiles ticked down slightly, while distillate fuel stocks fell by 3.6 million barrels.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 28 million barrels - the largest build since the week ended Jan.
|
|
Distillate stockpiles, which include diesel and heating oil, slumped by 3.2 million barrels, versus expectations for a 642,000-barrel drop.
|
|
Distillate inventories in the Midwest have risen to the highest seasonally since 2017, according to U.S. Energy Information Administration figures.
|
|
HEATING OIL FUTURES PARE GAINS SLIGHTLY IN POST-SETTLEMENT TRADE AFTER API DATA SHOW SURPRISE DRAW IN U.S. DISTILLATE STOCKPILES
|
|
He said Colonial is rerouting some gasoline from the downed Line 1 to its distillate line, known as Line 2.
|
|
U.S. HEATING OIL FUTURES EXTEND GAINS SLIGHTLY IN POST-SETTLEMENT TRADE AFTER API DATA SHOW SURPRISE DRAW IN DISTILLATE STOCKPILES
|
|
Distillate stockpiles, which include diesel and heating oil, were up by 327,000 barrels, versus expectations for a 333,000-barrel drop.
|
|
Overall distillate demand is up more than 13 percent over the last four weeks when compared with a year ago.
|
|
The market is now sending a strong signal to refiners to cut gasoline output and switch production plans towards distillate.
|
|
But there is little doubt that it has a major background influence on winter temperatures, heating demand and distillate consumption.
|
|
Oil prices rose on Wednesday, boosted by signs of strong U.S. demand for distillate products and tightening global crude supply.
|
|
The growth in distillate consumption has been slowing since early 2015 and turned persistently negative from May onwards (tmsnrt.rs/403P66zKw).
|
|
Distillate fuels stockpiles gained by 2.6 million barrels, compared with expectations for a 229,000-barrel drop, the API data showed.
|
|
The U.S. distillate market started the year in substantial oversupply, with inventories well above the long-term average (tmsnrt.rs/22018joA22018Cw).
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.1 million barrels, much bigger than the 2443,000-barrel draw forecast.
|
|
Refineries cut output, while gasoline and distillate inventories decreased, data from industry group the American Petroleum Institute showed on Tuesday.
|
|
Gasoline and distillate inventories also dropped more than expected, as refining rates fell, data from the Energy Information Administration showed.
|
|
But gasoline stocks fell 1.4 million barrels, while distillate stockpiles drew down by 3.6 million barrels, the EIA data showed.
|
|
U.S. distillate demand was up 5.4 percent to 4.15 million bpd in March compared with last year, EIA data showed.
|
|
At the same time, demand for distillate fuels like diesel was strong, he said, offsetting the downward pressure on crude.
|
|
Gasoline and distillate stockpiles also probably fell by at least 1.5 million barrels, a preliminary Reuters poll showed on Monday.
|
|
Refiners are currently making enough money from producing gasoline to cover the costs incurred in producing not-very profitable distillate.
|
|
But distillate demand has been much weaker than normal thanks to sluggish demand from the freight sector and El Nino.
|
|
Distillate stocks are much higher than the raw numbers suggest, once they are adjusted for the current weakness in demand.
|
|
Meanwhile, crude imports were up by 558,000 barrels and refiners produced less distillate fuel, which includes diesel and heating oil.
|
|
HEATING OIL FUTURES FALL IN POST-SETTLEMENT TRADE AFTER API DATA SHOW LARGER-THAN-EXPECTED DRAW IN U.S. DISTILLATE INVENTORIES
|
|
Distillate stockpiles grew by 5.7 million barrels, much more than expectations for a 613,000-barrel increase, the EIA data showed.
|
|
Gasoline inventories rose by 3.1 million barrels and stocks of distillate fuels, which include diesel, were up by 639,000 barrels.
|
|
It would cut gasoline supplies by 615,000 to 785,000 barrels per day (bpd) and reduce distillate supplies by 700,000 bpd.
|
|
It's one that will make vape pens, made from mere THC distillate, feel like a hollow, hazy experience by comparison.
|
|
Demand for distillate fuels, including diesel and heating oil was 4.15 million bpd, up 363,000 bpd from a year earlier.
|
|
The company primarily uses palm fatty acid distillate, a non-edible palm-oil, as a feedstock from Indonesia and Malaysia.
|
|
Distillate stocks often rise sharply at the end of the year, with similar one-week jumps seen in 2016 and 2015.
|
|
U.S. distillate stocks are now at three-year lows for this time of year, and 20123 percent below their historical average.
|
|
Extra distillate inventories accumulated during 2019 should help ameliorate shortages in 2020 and ease the transition to the new bunkering regulations.
|
|
Nearly all freight transport is powered by diesel so the freight recession caused a corresponding drop in distillate fuel oil consumption.
|
|
That boosted oil prices, which had slipped after the U.S. government reported a big increase in U.S. gasoline and distillate inventories.
|
|
Instead, refiners seem to be relying on changes to downstream processing units to adjust the balance between gasoline and distillate production.
|
|
Gasoline and distillate stockpiles fell as total product demand over the past four weeks rose 5.4 percent from a year ago.
|
|
Refineries however, are expected to continue to run at high levels, and distillate stocks are expected to rise by 400,000 barrels.
|
|
HEATING OIL FUTURES EXTEND GAINS IN POST-SETTLEMENT TRADE AFTER API DATA SHOW SMALLER-THAN-EXPECTED BUILD IN U.S. DISTILLATE INVENTORIES
|
|
Oil stockpiles fell again last week, along with gasoline and distillate inventories, data from the American Petroleum Institute showed on Tuesday.
|
|
Nationwide distillate consumption was flat in the first ten months of 2015, after growing by more than 5 percent in 2014.
|
|
HEATING OIL FUTURES HOLD LOSSES IN POST-SETTLEMENT TRADE AFTER API DATA SHOW LARGER-THAN-EXPECTED BUILD IN U.S. DISTILLATE STOCKS
|
|
Faltering manufacturing output is translating into a slowdown in worldwide freight movements and consumption of diesel and other middle distillate fuels.
|
|
Distillate stockpiles, which include diesel and heating oil, were down 4.2 million barrels, versus expectations for a 1.7 million-barrel drop.
|
|
Most distillate is used as diesel in trucks, locomotives and ships, as well as engine fuel for compressors, pumps and generators.
|
|
Distillate markets have been relatively tight in 333 and were expected to tighten further in 2019 assuming the economic expansion continues.
|
|
By contrast, distillate consumption is predicted to increase by 80,000 bpd in 2016, after declining by the same amount in 2015.
|
|
In theory the middle distillate should be performing strongly, given the expectation of increased demand next year from the shipping industry.
|
|
But with refineries focused on maximizing throughput to make distillate, gasoline, which is a co-product, will remain relatively more abundant.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 371,000 barrels, versus expectations for a 873,000-barrel increase.
|
|
Hedge funds have noticed the divergent trends and become much more bullish about the outlook for distillate prices than for gasoline.
|
|
Distillate stocks should be around 32 days worth of consumption but are currently at a massive 46 days worth of demand.
|
|
SINGAPORE INVENTORIES - Singapore onshore middle distillate stocks edged up by 0.3 percent to 12.24 million barrels in the week to Feb.
|
|
"Gasoline and distillate stocks increased strongly, which adds a bearish tone to the report," said Carsten Fritsch, oil analyst at Commerzbank.
|
|
But the consequence of heavy refining activity to produce distillate has been the emergence of a potential over-supply of gasoline.
|
|
Conversely, dry gins typically employ a column still to produce a higher alcohol distillate, or neutral grain spirit, for the base.
|
|
"The milder temperatures have hurt distillate demand a little bit," said Phil Flynn, an analyst at Price Futures Group in Chicago.
|
|
Gasoline stockpiles also increased unexpectedly after 10 weeks of drawdowns, while distillate inventories fell, the EIA said in its weekly report.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1 million barrels, versus expectations for a fall of 29,000 barrels.
|
|
HEATING OIL FUTURES EXTEND GAINS IN POST-SETTLEMENT TRADE AFTER API DATA SHOW SMALLER-THAN-EXPECTED DRAW IN U.S. DISTILLATE STOCKS
|
|
Goldman Sachs analysts said gasoline and distillate product refining margins are likely to rise further in the wake of the storm.
|
|
HEATING OIL FUTURES EXTEND GAINS IN POST-SETTLEMENT TRADE AFTER API DATA SHOW LARGER-THAN-EXPECTED DRAW IN U.S. DISTILLATE INVENTORIES
|
|
U.S. HEATING OIL FUTURES HOLD GAINS IN POST-SETTLEMENT TRADE AFTER API DATA SHOWS SMALLER-THAN-EXPECTED DRAW IN DISTILLATE STOCKPILES
|
|
Distillate fuel inventories, which include diesel and heating oil, fell by 141,000 barrels, against expectations of a 1 million barrel drop.
|
|
BBL gained 2 percent in September on bets that distillate cracks would rise, said a source familiar with the fund's returns.
|
|
HEATING OIL FUTURES PARE LOSSES IN POST-SETTLEMENT TRADE AFTER API DATA SHOW SMALLER-THAN-EXPECTED BUILD IN U.S. DISTILLATE INVENTORIES
|
|
At the same time, refiners are going to be curtailed, so you're going to see a shortage of gasoline and distillate.
|
|
Extra distillate inventories accumulated during 227 should help ameliorate shortages in 2020 and ease the transition to the new bunkering regulations.
|
|
Regional inventories of distillate used to make both diesel motor fuel and heating oil stand 25 percent above the 10-year average.
|
|
As a result of Harvey, distillate stocks fell another 4.6 million barrels in the first two weeks of September, EIA data shows.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 2.4 million barrels, versus expectations for a 700,000-barrel drop, the data showed.
|
|
Distillate demand rose to the highest since January 2003, which bolstered buying, particularly in heating oil futures, the market's proxy for diesel.
|
|
Reduced pressure on distillate inventories is most likely attributable to a combination of slower growth in consumption and faster growth in production.
|
|
U.S. refineries have exported surplus distillate to Central and South America, where local refineries have proved unable to meet strongly growing demand.
|
|
U.S. gasoline stocks fell by 23 million barrels compared with the prior week, while distillate stocks were down by 3.4 million barrels.
|
|
However, upcoming regulations on marine fuel will likely bring some support to the overall margins for middle distillate gasoil, market watchers said.
|
|
Meanwhile, U.S. crude oil and gasoline inventories likely fell last week, while distillate stockpiles rose, a preliminary Reuters poll showed on Monday.
|
|
HEATING OIL FUTURES PARE LOSSES SLIGHTLY IN POST-SETTLEMENT TRADE AFTER API DATA SHOW SMALLER-THAN-EXPECTED DRAW IN U.S. DISTILLATE STOCKPILES
|
|
Consumption of gasoline and distillate in the domestic and export markets "remain robust" executives told analysts (Conference call transcription, SeekingAlpha, Jul 28).
|
|
NEW YORK (Reuters) - U.S. crude stocks fell last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.
|
|
Gasoline stocks increased by 513,000 barrels, less than anticipated, while distillate stockpiles posted a larger-than-expected drop by 2.3 million barrels.
|
|
East Coast distillate prices have been strong due in part to both high export demand and less supply from the Gulf Coast.
|
|
U.S. distillate inventories rose last week to 137.5 million barrels, the highest for this time of year since 2017, EIA data showed.
|
|
However, gasoline and distillate stockpiles grew, while U.S. production and imports increased, so the path for higher prices remains tentative, analysts said.
|
|
U.S. distillate stocks fell by 24 million barrels over the course of 2017, the largest annual drawdown for at least a decade.
|
|
Even before the recent burst of cold weather, U.S. stocks of distillate fuel oil had fallen below the 10-year seasonal average.
|
|
Coal's only advantage as a fuel has been its relative cheapness compared with alternatives such as natural gas or distillate fuel oil.
|
|
Meanwhile, the nation's gasoline inventories fell by 4.2 million barrels and stocks of distillate fuel including diesel were down 2.4 million barrels.
|
|
HEATING OIL FUTURES PARE LOSSES SLIGHTLY IN POST-SETTLEMENT TRADE AFTER API DATA SHOW LARGER-THAN-EXPECTED DRAW IN U.S. DISTILLATE STOCKS
|
|
LONDON (Reuters) - U.S. freight movements have started increasing again, which should help boost consumption of distillate fuel oil in 2017 and 2018.
|
|
Total oil demand in May fell 218.9,000 bpd to 20.26 million bpd and distillate demand slumped 232,000 bpd to 4.04 million bpd.
|
|
Overall distillate inventories, which have declined for seven weeks in a row, fell to 119.1 million barrels, their lowest since June 153.
|
|
The diesel crackspread, a measure of profit for refining crude into distillate fuels, touched a two-month low of $13.08 a barrel.
|
|
"Volatility doesn't strike us as anything out of the ordinary," said Thomas Cole, CEO of Distillate Capital, a Chicago-based investment manager.
|
|
U.S. distillate prices are already rising to reduce exports and encourage refineries in the United States and elsewhere to ramp up production.
|
|
Gasoline stockpile levels also surprised the market by jumping 1.9 million barrels a day, while distillate inventories fell slightly less than expected.
|
|
A fire at Europe's largest refinery in the Netherlands could keep U.S. distillate exports elevated and support margins, traders and analysts said.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 839,000 barrels, versus expectations for a 651,000-barrel increase, the EIA data showed.
|
|
Burgess's novel is notable for its teenspeak patois, called "Nadsat," a dizzy distillate of Cockney street slang, Elizabethan poetry and Russian vocab.
|
|
Economy-wide distillate consumption was down almost 210% in August-October compared with a year earlier ("Petroleum supply monthly", EIA, Dec. 31).
|
|
The distillate market was heavily oversupplied at the start of 2017 but has become progressively undersupplied in the course of the year.
|
|
Until the recession risk is resolved, it is difficult to estimate the impact of IMO regulations on distillate availability with any precision.
|
|
In addition, a surge in distillate demand by shippers could push up prices of other products, such as jet fuel and diesel.
|
|
The price of oil was driven lower by the notable increase in imports and hike in stocks of distillate products, traders said.
|
|
Meanwhile a preliminary Reuters poll found on Monday that U.S. crude oil and distillate stockpiles were expected to have dropped last week.
|
|
Distillate inventories, which include heating oil and diesel fuel, were seen up about 2.7 million barrels in the past week, the poll showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 944,000 barrels, compared with expectations for a 684,000-barrel gain, the API data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 4.2 million barrels, versus expectations for a 573,000-barrel increase, the EIA said.
|
|
NEW YORK (Reuters) - U.S. crude stocks rose last week, while gasoline and distillate inventories also rose, the Energy Information Administration said on Wednesday.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 1.5 million barrels, versus expectations for a 482,000 barrels increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, increased 3 million barrels, versus expectations for a 1.6 million-barrel rise, the data showed.
|
|
EIA also reported that U.S. crude stocks fell less than anticipated last week, while gasoline and distillate inventories rose far more than expected.
|
|
Distillate consumption tends to be correlated with freight and industrial production so it was hit badly by the slowdown in 2015 and 2016.
|
|
Since the beginning of the oil boom, U.S. refineries have increasingly turned to exports to dispose of excess production of distillate fuel oil.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 769,000 barrels, versus expectations for a 870,000-barrel drop, the EIA data showed.
|
|
"Both gasoline and distillate apparent demand remains anemic with little improvement expected before years end," said Jim Ritterbusch, president of Ritterbusch and Associates.
|
|
Distillate demand growth peaked at the start of 2015 and slowed throughout the year before turning negative in the second half (tmsnrt.rs/1UTYZnQ).
|
|
Oil stockpiles fell again last week, along with gasoline and distillate inventories, data from the American Petroleum Institute industry group showed on Tuesday.
|
|
Stocks fell again last week, along with gasoline and distillate inventories, data from industry group the American Petroleum Institute (API) showed on Tuesday.
|
|
On Monday, the company, the largest U.S. refined products system, restarted Line 2, its main distillate line, between Houston and Lake Charles, Louisiana.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 122,49.03 barrels, versus expectations for a 400,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 4.1 million barrels, versus expectations of a 256,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 4.9 million barrels, versus forecasts for a 483,000-barrels draw, the EIA data showed.
|
|
Distillate yields were down compared with the prior year in January (-2.5 percentage points), February (-1.1 percentage points) and March (-0.9 percentage points).
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 134,000 barrels, versus expectations for a 545,000-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 2.4 million barrels, versus expectations for a 700,20143-barrel drop, the data showed.
|
|
NEW YORK (Reuters) - U.S. crude and gasoline stockpiles fell last week, while distillate stocks built, industry group the American Petroleum Institute said Wednesday.
|
|
Petrolatum: Like mineral oil, petrolatum—also listed as white petrolatum and petroleum jelly—is a petroleum distillate, but has a more viscous consistency.
|
|
Part of the weakness in distillate consumption has been caused by higher than normal temperatures across much of the United States this winter.
|
|
In May, Brazil imported about 250,000 barrels of distillate fuel oil, which includes diesel, from the United States, more than any other country.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 2.2 million barrels, versus expectations for a 752,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.3 million barrels, versus expectations for a 83,000-barrel drop, the EIA data showed.
|
|
U.S. crude stocks rose unexpectedly last week, while gasoline and distillate inventories drew, industry group the American Petroleum Institute said late on Tuesday.
|
|
There has been a clear tilt towards maximizing the production of distillate fuel oil to take advantage of higher margins than on gasoline.
|
|
Most of this extra distillate is being exported to Latin America and other overseas markets with only a modest increase in domestic consumption.
|
|
Strong worldwide distillate consumption reflects the synchronized economic expansion across most advanced and emerging economies and the acceleration in global trade and freight.
|
|
Meanwhile, U.S. gasoline stocks fell by by 1.9 million barrels, while inventories of distillate fuels like diesel ticked down by about 300,000 barrels.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 613,000 barrels, versus expectations for a 499,000-barrel increase, the EIA data showed.
|
|
U.S. Gulf coast distillate inventories rose last week to 41.4 million barrels, a record high for this time of year, EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 5.7 million barrels, versus expectations for a 613,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 92,000 barrels, versus expectations for a 2.2 million-barrel drop, the EIA data showed.
|
|
Gasoline and distillate stocks also fell, supporting a market that has sold off sharply in recent weeks due to persistently high U.S. inventories.
|
|
Distillate inventories, which include diesel and heating oil, rose 2.7 million barrels, versus expectations for a 230,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 3.4 million barrels, versus expectations for a 684,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.4 million barrels, versus expectations for a 902,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 485,000 barrels, versus expectations for a 743,000-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.9 million barrels, versus expectations for a 1.8 million-barrel increase, the EIA said.
|
|
Encouraging to bulls, however, was the increase in distillate demand and drawdown of 1 million barrels in distillates, or diesel and heating oil.
|
|
The export-corrected time series show consumption of both gasoline and distillate fuel oil has been running at a high level since March.
|
|
Distillate inventories, which include heating oil and diesel fuel, were seen to have decreased by 1.5 million barrels last week, the poll showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.1 million barrels, versus expectations for a 29,000-barrel build, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 4.35 million barrels, much higher than the market's expectation, the EIA data showed.
|
|
The biggest source of uncertainty for both refiners and middle distillate consumers is the outlook for the global economy in 2019 and 2020.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 702,000 barrels, versus expectations for a drop of 703,000 barrels, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 1.1 million barrels, versus expectations for a 465,000-barrel increase, the EIA data showed.
|
|
However, gasoline stocks rose by 6.8 million barrels and distillate inventories were up 1.7 million barrels, both exceeding expectations in a Reuters poll.
|
|
By the end of February, U.S. stockpiles of distillate fuel oil stood almost 22016 million barrels higher than a year earlier (tmsnrt.rs/22017TtIb4T).
|
|
U.S. crude stocks fell last week as refineries hiked output, while gasoline and distillate inventories rose, the Energy Information Administration said on Thursday.
|
|
In the United States, commercial crude and gasoline inventories probably rose last week, while distillate stocks likely fell, a preliminary Reuters survey showed.
|
|
Distillate demand has averaged 4.3 million barrels per day (bpd) over the last four weeks, about 13 percent higher than a year ago.
|
|
But since March, gasoline margins have improved and distillate margins are "relatively stable," President Tim Taylor said during the company's quarterly earnings call.
|
|
Distillate availability has been improving significantly over the last eight weeks after deteriorating more or less continuously since the start of the year.
|
|
Distillate stockpiles USOILD=ECI rose by 10.6 million barrels, more than five times the expected 1.9 million-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 3.7 million barrels, versus expectations for a 739,000-barrel increase, the data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1.9 million barrels, versus expectations for a 453,000-barrel drop, the EIA said.
|
|
A small amount (for St. George Spirits, a fraction of a gram per liter of alcohol) is needed to turn a distillate scarlet.
|
|
MOST ACTIVE U.S. HEATING OIL FUTURES EXTEND LOSSES IN POST-SETTLEMENT TRADE AFTER API DATA SHOWS BIGGER-THAN-EXPECTED BUILD IN DISTILLATE INVENTORIES
|
|
Distillate stockpiles, which include diesel and heating oil, fell 2.1 million barrels, versus expectations for a 200,000-barrel increase, the EIA data showed.
|
|
A typical legal THC cartridge might have 70-90% pure THC distillate with the rest containing terpenes -- aromatic oils which give it flavor.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 2.7 million barrels, versus expectations for a 164,000-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.9 million barrels, versus expectations for a 217,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 28,000 barrels, versus expectations for a 93,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 505,000 barrels, versus expectations for a 281,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 1.8 million barrels, versus forecasts for a 125,000-barrel draw, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 2.6 million barrels, versus expectations for a 314,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 8.9 million barrels, versus expectations for a 477,000-barrel increase, the EIA data showed.
|
|
Gasoline inventories fell by 3.2 million barrels, while distillate stockpiles, which include diesel and heating oil, fell by 371,000 barrels, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, increased by 20153,000 barrels, versus expectations for a 1 million-barrel drop, the EIA data showed.
|
|
Gasoline stocks fell 63 million barrels to the lowest level since December 2017, while distillate stockpiles dropped by 77,000 barrels, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 559,000 barrels, the EIA data showed, versus expectations for a 1.2 million barrels drop.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.7 million barrels, significantly more than the 314,000-barrel drop expected, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 383,000 barrels, versus expectations for a 1.9 million-barrel drop, the EIA data showed.
|
|
In most cases, the new rules will force shipowners to switch from burning high-sulfur residual fuel oil to low-sulfur distillate-type fuels.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.8 million barrels, versus expectations for a 1.9 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 4.1 million barrels, versus expectations for a 1.4 million-barrel drop, the EIA data showed.
|
|
But it is also likely distillate consumption growth has been hit by a combination of higher fuel prices and weakening freight and manufacturing consumption.
|
|
Distillate stockpiles, which include diesel and heating oil, increased by 1.6 million barrels, versus expectations for a 903,000-barrel drop, the EIA data showed.
|
|
Distillate consumption declined by 4.7 percent between 2014 and 2016, according to the U.S. Energy Information Administration ("Short-Term Energy Outlook", EIA, Feb. 2017).
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 8.4 million barrels, versus expectations for an 899,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 1.5 million barrels, versus expectations for a 482,000 barrels increase, the EIA data showed.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell 101,000 barrels, versus expectations for a 207,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, grew by 634,000 barrels, versus expectations for a 1.3 million-barrel draw, the EIA data showed.
|
|
Gasoline stocks fell by 1.2 million barrels, and distillate stocks, which include diesel and heating oil, fell by 362,000 barrels, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 84,000 barrels, versus expectations for a 1 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 116,000 barrels, versus expectations for a 1.3-million-barrel drop, the EIA data showed.
|
|
Refining margins for distillate have been gradually rising since the second quarter of 2016, starting to reverse the previous downtrend since 2013 (tmsnrt.rs/2hF3xBR).
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 768,000 barrels, versus expectations for a fall of 48,000 barrels, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1.0 million barrels, versus expectations for a 133,000 barrels increase, the EIA data showed.
|
|
"I would say one week ago if you were talking to a distillate crowd, they would have been 90 percent bearish," one trader said.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 662,000 barrels, versus expectations for a 1.2 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 3.2 million barrels, versus expectations for a 1.5 million-barrel drop, the EIA data showed.
|
|
He admitted to carrying out his killings primarily using cyanide for its hard-to-diagnose properties, but also arsenic, rat poison, and petroleum distillate.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 159,000 barrels, versus expectations for a 1.1 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 894,000 barrels, versus expectations for a 1 million-barrel increase, the EIA data showed.
|
|
Crude stockpiles fell again last week, along with gasoline and distillate inventories, data from industry group the American Petroleum Institute (API) showed on Tuesday.
|
|
At the end of 2018, the distillate market, like other financial markets and the economy, was balanced uncertainly on the brink of a slowdown.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, rose 3 million barrels, versus expectations for a 264,000-barrel increase, the data showed.
|
|
The combination of strong demand at home and record exports has cut stockpiles of gasoline and distillate significantly since the start of the year.
|
|
U.S. distillate stocks have fallen by almost 34 million barrels compared with an average seasonal decline of just 2 million between 20183 and 2016.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 76,000 barrels, versus expectations for a 1.0 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 1.2 million barrels, versus expectations for a 220,000 barrels increase, the EIA data showed.
|
|
Refiners and blenders tilted production heavily towards gasoline and away from distillate production during the first six months in response to market price signals.
|
|
By 2000, oil producers accounted for 22015 percent of all distillate fuel oil sales in the United States, up from 22015 percent in 20143.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 3.8 million barrels, versus expectations for a 1.4 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.4 million barrels, versus expectations for a 3.5 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 2.4 million barrels, versus expectations for a 522,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 1.1 million barrels, versus expectations for a 584,000-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 639,000 barrels, versus expectations for a 1.5 million-barrel drop, the EIA data showed.
|
|
Refiners have only limited flexibility to shift from producing gasoline to distillates in the short term ("Increasing distillate production at U.S. refineries", EIA, 2010).
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 320,000 barrels, versus expectations for a 2.1 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1 million barrels, versus expectations for a 709,000-barrel drop, the EIA data showed.
|
|
The easiest alternative, however, is to switch to a lighter "marine distillate oil," which Maersk says is "on par with" the fuel it's using.
|
|
Light distillate inventories, including gasoline and naphtha, in Asia's refining and oil trading hub of Singapore have climbed to a record 17.29 million barrels.
|
|
Distillate is set to remain the main driver of oil demand in 2018, unless there is a recession in the United States or China.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 1.6 million barrels, versus expectations for a 903,000-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 537,000 barrels, versus expectations for a 1.1 million barrels drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 4.4 million barrels, versus expectations for a 281,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 5.2 million barrels, versus expectations for an 860,000-barrel drop, the EIA data showed.
|
|
A preliminary Reuters survey on Monday showed that U.S. commercial crude oil and gasoline inventories probably rose last week, while distillate stocks likely fell.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.8 million barrels, versus expectations for a 1.3 million-barrel drop, the EIA data showed.
|
|
Further boosting prices, the American Petroleum Institute said on Tuesday that U.S. crude, gasoline and distillate inventories fell in the week to March 15.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 4.6 million barrels, versus expectations for a 499,000-barrel increase, the EIA data showed.
|
|
NEW YORK, (Reuters) - U.S. crude, gasoline and distillate inventories fell last week, as imports dropped, industry group the American Petroleum Institute said on Tuesday.
|
|
For as long as investors remain concerned about a global slowdown, distillate margins are likely to remain under pressure, notwithstanding the new IMO rules.
|
|
At the end of the meal, there are fresh local strawberries, and shots of chacha, a strong distillate made from wine and grape must.
|
|
U.S. crude stockpiles unexpectedly rose last week, while gasoline and distillate inventories increased, data from industry group the American Petroleum Institute showed on Tuesday.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, rose 29,000 barrels, versus expectations for a 300,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.6 million barrels, versus expectations for a drop of 1 million barrels, the data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 2 million barrels, versus expectations for a drop of 506,000 barrels, the EIA data showed.
|
|
U.S. distillate stockpiles, which include diesel and heating oil, rose 269,000 barrels, versus expectations for a 1.2 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 4.4 million barrels, versus expectations for a 281,000 barrels increase, the EIA data showed.
|
|
Exports of distillate inventories have been strong of late, draining inventories on the East Coast, a traditional parking spot for distillates like jet fuel.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 2.6 million barrels, versus expectations for a 861,000-barrel drop, the EIA data showed.
|
|
But that outlook was offset by strong demand for gasoline and distillate products and news that OPEC countries maintained heavy supply cuts in January.
|
|
The U.S. Energy Information Administration forecasts that distillate consumption will increase by 80,000 barrels per day in 163 and a further 90,000 in 2018.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 2.6 million barrels, versus expectations for a 1.8 million-barrel drop, the EIA data showed.
|
|
In a typical expansion, gasoline consumption tends to dominate in the early stages while distillate growth takes over as the cycle becomes more mature.
|
|
NEW YORK (Reuters) - U.S. crude stocks rose last week, while gasoline and distillate inventories drew, industry group the American Petroleum Institute said on Tuesday.
|
|
"(Even if) margins are bad, European refiners think they can profit from distillate demand for the 2020 bunker fuel change," Refinitiv's Ul-Haq said.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1.4 million barrels, versus expectations for a 4503,000-barrel increase, the EIA data showed.
|
|
Coal is the single most important commodity hauled by the railroads, which are in turn one of the largest consumers of distillate fuel oil.
|
|
Most freight is moved by high-horsepower engines using residual fuel oil (ocean shipping) or distillate fuel oil (roads, railways, coastal and inland shipping).
|
|
Worldwide distillate consumption increased by less than 200,000 bpd between 2014 and 2016 compared with almost 750,2019 bpd in the previous two-year period.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 3.1 million barrels, versus expectations for a 742,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, were up by 769,103 barrels, versus expectations for a 870,000-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 20163 million barrels, versus expectations for a 584,000-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 603,000 barrels, versus expectations for a 1.2 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 2.1 million barrels, versus expectations for a 896,000-barrel drop, the EIA data showed.
|
|
"As such, we think the distillate crack will continue to trend higher than last year through (the second half of 2017,)" the bank said.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 2.2 million barrels, versus expectations for a 784,000-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1.3 million barrels, versus expectations for a 193,000-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, declined by 1.9 million barrels, versus expectations for a 453,000-barrel drawdown, the EIA data showed.
|
|
Analysts polled by Reuters forecast that U.S. crude inventories fell 3.2 million barrels while gasoline and distillate stocks each rose by 1.5 million barrels.
|
|
Middle distillate consumption is heavily geared to freight transportation by ship, road, rail and aircraft, as well as manufacturing, mining and the farm sector.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 77,000 barrels, versus expectations for a 2.8 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 3 million barrels, versus expectations for a 264,000-barrel increase, the EIA data showed.
|
|
LONDON (Reuters) - Three distillate tankers have been diverted from loading their cargoes at the Saudi port of Jubail, according to data intelligence firm Kpler.
|
|
U.S. crude stocks fell for the seventh consecutive week last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 702,000 barrels, versus expectations for a drop of 572,000 barrels, the EIA data showed.
|
|
But as freight movements pick up, distillate is set to receive a big boost in 2017 and 2018, with growth likely to exceed gasoline.
|
|
Illegally cut cartridges might have only 40-50% pure THC distillate, with the rest being filled with terpenes and something like vitamin E acetate.
|
|
NEW YORK (Reuters) - U.S. crude stocks fell in the latest week while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 8370,000 barrels, versus expectations for a 1.6 million-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 3.1 million barrels, versus expectations for a 1.1 million-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 304,000 barrels, versus expectations for a 2 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1 million barrels, versus expectations for a 732,000-barrel drop, the EIA data showed.
|
|
At the same time, U.S. distillate inventories are at their lowest seasonally since 2014 and about 20 percent below the same time last year.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.6 million barrels, versus expectations for an increase of 31,000 barrels, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 459,000 barrels, versus expectations for a 1.1 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 917,000 barrels, versus expectations for a 1.1 million barrels drop, the EIA data showed.
|
|
In most cases, the new rules will force shipowners to switch from burning high-sulphur residual fuel oil to low-sulphur distillate-type fuels.
|
|
U.S. crude stocks rose unexpectedly last week, while gasoline and distillate inventories built more than expected, industry group the American Petroleum Institute said on Tuesday.
|
|
U.S. crude inventories rose unexpectedly last week, while gasoline and distillate stockpiles built more than expected, data from the American Petroleum Institute showed on Tuesday.
|
|
Meanwhile, U.S. Midwest distillate stockpiles climbed by about 1.4 million to 37.6 million barrels, the highest on record, based on data going back to 1990.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 4.2 million barrels, versus expectations for a 1.7 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 1.8 million barrels, versus expectations for a 1.5 million barrels increase, the EIA data showed.
|
|
U.S. gasoline stocks fell by 2.6 million barrels, and distillate fuel stocks dropped by 4.9 million barrels the most since October 2014, EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 2 million barrels, versus expectations for a 1 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1 million barrels, versus expectations for a 1.1 million-barrel increase, the EIA data showed.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 562,000 barrels, versus expectations for a 723,000 barrel-increase, the EIA data showed.
|
|
The introduction of new low-sulfur standards for distillate fuel oil in the United States led to concerns about the availability of enough sweet crude.
|
|
The U.S. crude inventories fell more than expected as refining runs increased, while gasoline and distillate inventories rose, the Energy Information Administration said on Thursday.
|
|
Lower freight demand was exacerbated by the record warm winter in 2015/16, since distillate is also used to heat homes, offices, and other buildings.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 10.1 million barrels, versus expectations for a 1.1 million-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 2.7 million barrels, versus expectations for a 2 million-barrel drop, the EIA data showed.
|
|
Two of those products are Chroma, a purified cannabinoid distillate, and FreshTerps, an extract that captures the entire terpene profile of a strain of cannabis.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 2.7 million barrels, versus expectations for a 2.8 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 4.1 million barrels, versus expectations for a 1.1 million-barrel drop, the EIA data showed.
|
|
U.S. distillate refining margins have already had a bad start to 2020 and sit at the lowest level seasonally since 2017, Refinitiv Eikon data shows.
|
|
U.S. distillate refining margins have already had a bad start to 2020 and sit at the lowest level seasonally since 2017, Refinitiv Eikon data shows.
|
|
"The unexpected drawdown in U.S. commercial crude oil stocks was balanced by lower-than-expected withdrawals in the countrys gasoline and distillate inventories," Kumar said.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1.7 million barrels, versus expectations for a drop of 131,000 barrels, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 4.4 million barrels, versus expectations for a 1.5 million-barrel drop, the EIA data showed.
|
|
At the same time, distillate yield was cut to 229 percent in April this year compared with 173 percent at the same point last year.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 1.4 million barrels, versus expectations for a 1 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 20173 million barrels, versus expectations for a 1.9 million barrels drop, the EIA data showed.
|
|
Distillate fuels stockpiles, which include diesel and heating oil, rose by 372,000 barrels, compared with expectations for a 217,000-barrel gain, the API data showed.
|
|
Distillate stockpiles, however, which include diesel and heating oil, rose by 257.40 million barrels, the greatest one-week jump since December 2641, the EIA said.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 0003 million barrels, versus expectations for a 1.8 million-barrel increase, the EIA data showed.
|
|
But distillate is also the main fuel used by trucking firms, railroads, vessel operators and in a variety of off-road vehicles on construction sites.
|
|
U.S. crude stockpiles fell last week more than expected, while gasoline inventories increased and distillate stocks drew, industry group the American Petroleum Institute said Tuesday.
|
|
NEW YORK (Reuters) - U.S. crude stocks rose more than expected last week, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 3.8 million barrels, versus expectations for a 2.4 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1.2 million barrels, versus expectations for a 1.6 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1.9 million barrels, versus expectations for a 1.8 million-barrel increase, the EIA data showed.
|
|
He avoided the electric chair with a plea-bargain confession and said he carried out his killings using cyanide, arsenic, rat poison or petroleum distillate.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 2.4 million barrels, versus expectations for a 1.5 million-barrel drop, the EIA data showed.
|
|
Distillate fuels stockpiles, which include diesel and heating oil, fell by 854,000 barrels, compared with expectations for a 268,000-barrel drop, the API data showed.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell 777,000 barrels, versus expectations for a 1.1 million barrels drop, the EIA data showed.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, increased 3 million barrels, versus expectations for a 1.6 million-barrel rise, the data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 6.3 million barrels, versus expectations for a 2.0-million-barrel increase, the EIA data showed.
|
|
U.S. East Coast distillate stocks rose by 1.6 million last week, the highest level for this time of the year since 2010, EIA data shows.
|
|
Distillate stocks have swung from a 222-million-barrel surplus over prior-year in late July to a 218-million-barrel deficit in late October.
|
|
Distillate stockpiles, which include diesel and heating oil, increased by 2.5 million barrels, versus expectations for a 7303 million-barrel increase, the EIA data showed.
|
|
Gasoline consumption is more weighted toward private motorists while distillate is geared toward commercial freight transport, aviation, manufacturing, farming, mining and oil and gas production.
|
|
Gasoline is weighted regionally toward the United States and Japan while distillate is weighted more toward Europe, Latin America, Africa, Asia and the Middle East.
|
|
As a result, gasoline use tends to be steadier across the business cycle while distillate consumption varies much more with the state of the economy.
|
|
But global freight volumes have grown much more slowly in 2018 as the economy has lost momentum, easing some of the pressure on distillate supplies.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 4.1 million barrels, versus expectations for a 1.2 million-barrel increase, the EIA data showed.
|
|
However, the EIA data showed gasoline and distillate inventories both fell by more than 5 million barrels, and refinery utilization rates rose 3.3 percentage points.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1.9 million barrels, versus expectations for a 1 million-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1.5 million barrels, versus expectations for a 20183 million-barrel decline, the EIA data showed.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell 3.2 million barrels, versus expectations for a 642,000-barrel drop, the EIA data showed.
|
|
NEW YORK (Reuters) - U.S. crude stockpiles fell more than expected last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Thursday.
|
|
But if temperatures in the forthcoming winter are closer to the long-term average, distillate stocks could become very tight without very high refining runs.
|
|
Overall, distillate stockpiles, which include diesel and heating oil, soared 10.1 million barrels, versus expectations for a 1.1 million-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 3.6 million barrels, versus expectations for a 1 million-barrel increase, the EIA data showed.
|
|
Justin Sloan, a senior distillate trader at trading house Trafigura in Houston, has left the company, three sources familiar with the matter said on Friday.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 5 million barrels, versus expectations for a 1.3 million-barrel increase, the EIA data showed.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, rose 1.8 million barrels, versus expectations for a 333,000-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 3.0 million barrels, versus expectations for a 1.6 million-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, declined by 2.1 million barrels, versus expectations for a 1.6 million barrels drawdown, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 3.9 million barrels, versus expectations for a 1.4 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 3.1 million barrels, versus expectations for a 1.1 million barrels increase, the EIA data showed.
|
|
U.S. crude oil inventories rose in the most recent week, while gasoline and distillate stocks dropped, data from industry group the American Petroleum Institute showed.
|
|
U.S. distillate margins HOc101-CLc2000 have fallen to the weakest level since July 222.7, plunging to $18.60 a gallon on Friday, according to Refinitiv data.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 4.3 million barrels, versus expectations for a 703 million-barrel increase, the EIA data showed.
|
|
NEW YORK (Reuters) - U.S. crude and gasoline stockpiles rose unexpectedly last week, while distillate inventories drew, industry group the American Petroleum Institute said on Tuesday.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 4.1 million barrels to 123.6 million barrels, versus forecasts for a 1.6 million-barrel gain.
|
|
U.S. crude stockpiles likely fell for a seventh consecutive week, along with a probable fall in distillate and gasoline inventories, a preliminary Reuters poll showed.
|
|
Distillate fuel inventories, which include diesel and heating oil, fell by 706,000 barrels, compared with expectations for a 1.7 million-barrel draw, the data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 2.4 million barrels, versus expectations for a 1.8 million-barrel drop, the EIA data showed.
|
|
Distillate fuel inventories, which include diesel and heating oil, fell by 141,000 barrels, compared with expectations for a 1 million-barrel draw, the data showed.
|
|
Distillate fuel inventories, which include diesel and heating oil, fell by 2.3 million barrels, compared with expectations for a 557,000-barrel draw, the data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 3.9 million barrels, versus expectations for a 2.1 million barrel drop, the EIA data showed.
|
|
U.S. distillate margins have fallen to the weakest level since July 222.7, plunging to $18.60 a gallon on Friday, according to Refinitiv data.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 3.1 million barrels, versus expectations for a 1.1 million-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1.9 million barrels, versus expectations for a 1.4 million-barrel drop, the EIA data showed.
|
|
One of OBS's new barges will be deployed to supply distillate fuels, while the remaining four are expected to supply residual fuels, the spokeswoman said.
|
|
Gasoline stocks rose by 1.8 million barrels while distillate fuels stockpiles, which include diesel and heating oil, climbed by 609,000 barrels, the API data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 2.0 million barrels, versus expectations for a 1.7 million barrels drop, the EIA data showed.
|
|
The International Maritime Organization's new regulations on bunker fuels are likely to accelerate the transition to distillate fuel oil and away from heavy fuel oil.
|
|
Distillate fuels stockpiles, which include diesel and heating oil, rose by 794,000 barrels, compared with expectations for a 1.1 million-barrel gain, the data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, declined by 4.4 million barrels, versus expectations for a 1.5 million-barrel draw, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1.9 million barrels, versus expectations for a 1.5 million-barrel drop, the EIA data showed.
|
|
Nowhere is the impact of economic fears more evident than in the market for middle distillate fuels such as U.S. heating oil and European gasoil.
|
|
Next was the sweet, fruity wine, Bonny Doon, used as the vodka distillate for Fog Point, and selected because of the winemaker's similar commitment to sustainability.
|
|
Distillate stockpiles, which include diesel and heating oil, were up by 2.5 million barrels, versus expectations for a 23 million-barrel increase, the EIA data showed.
|
|
By the middle of May, distillate stocks in the United States were more than 12 million barrels (11%) higher than at the same point last year.
|
|
In the Gulf Coast region, stockpiles of both gasoline and distillate rose to the highest level on record for this time of year, the data showed.
|
|
Distillate stocks, which include diesel and heating oil, unexpectedly rose by 1.5 million barrels, while gasoline inventories fell by 691,000 barrels, about half the forecast drawdown.
|
|
Energy Information Administration data showed U.S. crude oil inventories fell for the third consecutive week but gasoline and distillate stockpiles rose as refiners ramped up output.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell 1.1 million barrels, versus expectations for a 1.4 million-barrel drop, the EIA data showed.
|
|
U.S. gasoline and distillate stockpiles rose more than expected last week, while crude inventories fell as refineries hiked production, the Energy Information Administration said on Wednesday.
|
|
Distillate fuels stockpiles, which include diesel and heating oil, rose by 1.8 million barrels, compared with expectations for a 314,000-barrel gain, the API data showed.
|
|
Distillate fuels stockpiles, which include diesel and heating oil, fell by 1.3 million barrels, compared with expectations for a 207,000-barrel gain, the API data showed.
|
|
Distillate fuels stockpiles, which include diesel and heating oil, fell by 890,000 barrels, compared with expectations for a 1 million-barrel gain, the API data showed.
|
|
Counter-seasonal stock movements suggest the U.S. market is on course to have surplus gasoline and not enough distillate once the summer driving season is over.
|
|
The disjointed growth of gasoline and distillate consumption in the United States (and in some other regions) reflects unbalanced growth between the consumer and business sectors.
|
|
NEW YORK (Reuters) - U.S. crude and gasoline stockpiles fell less than forecast last week, while distillate inventories rose unexpectedly, the Energy Information Administration said on Wednesday.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, rose 5 million barrels, versus expectations for a 1.3 million-barrel increase, the EIA data showed.
|
|
Distillate fuels stockpiles, which include diesel and heating oil, rose by 6.2 million barrels, compared with expectations for a 613,000-barrel gain, the API data showed.
|
|
Further consumption growth increasingly relies on the distillate fuels used in freight transport, as well as the industrial sector and on oil and gas drilling sites.
|
|
Signs that the distillate and gasoline markets are no longer under-supplied point to less frenetic refinery runs in future and a moderation in crude demand.
|
|
Distillate fuels stockpiles, which include diesel and heating oil, fell by 4.9 million barrels, compared with expectations for a 860,000-barrel drop, the API data showed.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, dropped 1.6 million barrels, versus expectations for a 1.0 million-barrel draw, the EIA data showed.
|
|
Single-malt scotch distillers commonly fill their distillate in ex-bourbon or ex-sherry casks, with each type contributing different attributes to the whisky over time.
|
|
Distillate stocks therefore start the new year in a depleted state and likely to tighten further if industrial activity and global freight movements continue to rise.
|
|
Freight is therefore the main driver for consumption of fuels refined from the middle of the crude oil barrel, including distillate fuel oil and jet fuel.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, grew 4.3 million barrels, versus expectations for a 1.5 million-barrel increase, the EIA data showed.
|
|
Distillate fuels stockpiles, which include diesel and heating oil, fell by 883,000 barrels, compared with expectations for a 1.4 million-barrel drop, the API data showed.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 814,000 barrels, versus expectations for a 2.2 million-barrel drop, the EIA data showed.
|
|
U.S. distillate demand, which was pummeled by a historically mild winter, fell 9.9 percent from January last year, as warmer weather cut demand for heating oil.
|
|
The expected decline in exports could help raise jet fuel margins, which plunged to a nine-month low earlier this month, said three middle distillate traders.
|
|
Hedge funds and refiners are hoping distillate will get a further boost from a pick-up in freight movements and a colder winter in 217/22016.
|
|
Global consumption of distillate fuel oil increased by almost 22019 million barrels per day (bpd) over the same period ("Statistical Review of World Energy", BP, 22020).
|
|
According to the bank's estimates, global crude oil output would need to grow by 5.7 million barrels a day by 2020 to meet growing distillate consumption.
|
|
Middle distillate fuels, such as marine gasoil, generally contain less sulfur than fuel oil, which has traditionally been the fuel used in large ocean-going vessels.
|
|
Energy Information Administration data showed American crude oil inventories fell for the third consecutive week but gasoline and distillate stockpiles rose as refiners ramped up output.
|
|
Distillate stockpiles, which include diesel and heating oil, were down by 3.4 million barrels, versus expectations for a 1.4 million-barrel decline, the EIA data showed.
|
|
U.S. crude stocks fell last week as refineries hiked output and imports dropped, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said.
|
|
Refineries were geared to produce a middle distillate boiling around 217-22015 degrees Fahrenheit which was sold as kerosene or paraffin oil and used for illumination.
|
|
Offsetting the big drop in crude stockpiles, gasoline stocks rose by 534,1.83 barrels, while distillate stockpiles, which include diesel and heating oil, jumped by 634,000 barrels.
|
|
Gasoline stocks climbed by 3.6 million barrels, while inventories of distillate fuels, including diesel and heating oil, fell by 2.9 million barrels, the API data showed.
|
|
Oil prices extended losses on Wednesday after government data showed U.S. crude stocks rose unexpectedly last week, while gasoline and distillate inventories fell more than expected.
|
|
Distillate inventories are now just 6 million barrels below the 213-year average compared with a deficit of 25 million barrels as recently as July 20.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 211.7 million barrels, more than five times the expected 1.9 million-barrel increase, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 362,000 barrels, also not as much as forecasts for a 846,000-barrel drawdown, the EIA data showed.
|
|
U.S. crude stocks rose last week, while gasoline inventories decreased and distillate stocks drew, data from industry group the American Petroleum Institute (API) showed on Wednesday.
|
|
But they rebounded after American Petroleum Institute (API) data released late on Tuesday showed U.S. crude and gasoline stocks fell last week, while distillate stocks built.
|
|
But they rebounded after American Petroleum Institute (API) data late on Tuesday showed U.S. crude oil and gasoline stocks fell last week, while distillate stocks built.
|
|
Distillate fuel inventories, which include diesel and heating oil, fell by 4.7 million barrels, compared with expectations for a 1.9 million-barrel draw, the data showed.
|
|
Distillate fuel inventories, which include diesel and heating oil, fell by 3.6 million barrels, compared with expectations for a 1.9 million-barrel draw, the data showed.
|
|
Distillate fuel inventories, which include diesel and heating oil, fell by 1.7 million barrels, compared with expectations for a 1.9 million-barrel draw, the data showed.
|
|
Distillate margins fell as low as $13.44 a barrel on Thursday, lowest for this time of year since 2016, according to Refinitiv Eikon data.
|
|
Distillate fuel inventories, which include diesel and heating oil, rose by 6.8 million barrels, compared with expectations for a 1.2 million-barrel increase, the data showed.
|
|
U.S. distillate margins HOc8313-CLc11 fell to the weakest level since July 2000 this week and were last at $222.7 a gallon, according to Refinitiv data.
|
|
Gasoline stocks fell 2.1 million barrels, in line with analysts' expectations while distillate stocks inventories fell 5.7 million barrels, the biggest weekly draw since November 2011.
|
|
Distillate margins HOc1-CLc1 fell as low as $13.44 a barrel on Thursday, lowest for this time of year since 2016, according to Refinitiv Eikon data.
|
|
Distillate fuel inventories, which include diesel and heating oil, rose by 6.4 million barrels, compared with expectations for a 3.9 million-barrel increase, the data showed.
|
|
Distillate fuel inventories, which include diesel and heating oil, fell by 2.6 million barrels, compared with expectations for a 1.46 million-barrel draw, the data showed.
|
|
Distillate demand grew more slowly than oil consumption as a whole, which was up 1.6 percent in 2016, and much slower than gasoline, up 2.4 percent.
|
|
Distillate fuel inventories, which include diesel and heating oil, rose by 2.8 million barrels, compared with expectations for a 1.8 million-barrel gain, the data showed.
|
|
Distillate fuel inventories, which include diesel and heating oil, rose by 3.5 million barrels, compared with expectations for a 1 million-barrel increase, the data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, were up by 20193 million barrels, versus expectations for a 1.4 million-barrel drop, the EIA data showed.
|
|
And they produced a seasonal record 2000 million bpd of distillate fuel oil, which was 240,22016 bpd above 22018 and 20143,22014 bpd above the decade average.
|
|
U.S. gasoline stocks rose by 21.8650 million barrels and distillate inventories were up 29.7 million barrels, government data showed, both exceeding expectations in a Reuters poll.
|
|
Distillate stockpiles, which include diesel and heating oil, rose unexpectedly by 1.2 million barrels, versus expectations for a 1.1 million-barrel drop, the EIA data showed.
|
|
U.S. crude inventories fell more than expected last week as refining runs increased, while gasoline and distillate inventories rose, the Energy Information Administration said on Thursday.
|
|
Distillate consumption increased by around 24,229 bpd (2.1%) in 2018, slowing from 800,000 bpd (2.3%) in 2017, but still relatively fast for the current economic expansion.
|
|
The world's most famous fernet dates back to 1845, when Bernardino Branca combined some 27 herbs and ingredients with a grape distillate to create Fernet-Branca.
|
|
U.S. crude stocks rose last week, while gasoline inventories decreased and distillate stocks drew, data from industry group the American Petroleum Institute (API) showed on Wednesday.
|
|
Gasoline stocks rose 6.9 million barrels last week, while distillate stockpiles grew 9.5 million barrels, the EIA said, compared with forecasts for builds under 4.5133 million barrels.
|
|
The gasoline figures combined with strong distillate demand numbers helped push overall oil demand up 4.3 percent to 20.21 million barrels-per-day (bpd), EIA data showed.
|
|
That shale oil provides a cheap raw material for Gulf Coast refineries, and it also yields more gasoline and less distillate than a barrel of heavier crude.
|
|
Crude and distillate prices are falling in line with the progressive inversion of the U.S. Treasury yield curve and increasing expectations of weakness-driven interest rate cuts.
|
|
Gasoline and distillate stocks have been tightening consistently most weeks since March, and now appear tight given underlying growth in demand in domestic and in export markets.
|
|
NEW YORK (Reuters) - U.S. crude and gasoline stockpiles rose more than expected last week, while distillate inventories fell, data from the Energy Information Administration showed on Thursday.
|
|
Distillate stocks, which include diesel and heating oil, unexpectedly rose 19.53 million barrels, while the gasoline inventory drop of 691,000 barrels was about half the drawdown forecast.
|
|
Fuel consumption is broadly unchanged compared with 2018, with the volume of gasoline supplied to domestic customers flat so far this year and distillate consumption down slightly.
|
|
Middle distillates are heavily geared towards the economic cycle because most distillate fuel oil is used in freight transportation (shipping, railroads, aviation, trucks), manufacturing, mining and farming.
|
|
Distillate stocks, which include diesel and heating oil, unexpectedly rose 1.5 million barrels, while the gasoline inventory drop of 403,000 barrels was about half the drawdown forecast.
|
|
U.S. distillate stocks are currently equivalent to almost 44 days worth of consumption, a record for the time of year, and far above the normal 32 days.
|
|
"Brewers place the distillate into barrels, toasted or charred on the inside, where the whiskey picks up flavor molecules and develops its signature finish," Please pay attention!
|
|
By contrast, U.S. distillate consumption is predicted to rise by 20153,22015 bpd in 214 and another 22,000 bpd in 2019 ("Short-Term Energy Outlook", EIA, June 2018).
|
|
Distillate inventories unexpectedly fell over the summer and dropped even further heading into this winter because of refinery outages along the U.S. Gulf Coast after Hurricane Harvey.
|
|
But the volume of low-sulfur distillate fuel oil, which includes the diesel used by trucks and trains, supplied to domestic customers was flat compared with 2014.
|
|
Distillate and gasoline stocks, however, rose by a whopping 9.5 million and 6.9 million barrels, to 119.9 million and 240 million barrels respectively, the EIA data showed.
|
|
API INVENTORY DATA - U.S. crude stocks fell unexpectedly last week, while gasoline inventories decreased and distillate stocks built, industry group the American Petroleum Institute said on Tuesday.
|
|
After settlement, the American Petroleum Institute said U.S. crude stocks fell more than expected last week as imports dropped, while gasoline inventories increased and distillate stocks drew.
|
|
Even with restricted crude run rates, however, gasoline stocks are just 4 million barrels below 2018 levels while distillate inventories are 15 million barrels above last year.
|
|
U.S. gasoline prices fell into negative territory and heating oil futures pared gains as EIA reported less-than-expected decreases in gas and distillate fuel oil inventories.
|
|
Oil prices jumped after a U.S. report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories.
|
|
U.S. refiners and traders exported 22016,000 bpd of gasoline in the week ending on May 26, and a near-record 1.25 million bpd of distillate fuel oil.
|
|
Distillate fuels stockpiles, which include diesel and heating oil, rose by 5.2 million barrels, compared with expectations for a 1.1-million-barrel gain, the API data showed.
|
|
NEW YORK (Reuters) - U.S. crude stocks rose less than expected last week, while gasoline and distillate inventories drew, industry group the American Petroleum Institute said on Tuesday.
|
|
Distillate fuels stockpiles, which include diesel and heating oil, fell by 4.3 million barrels, compared with expectations for a 1.5 million-barrel drop, the API data showed.
|
|
In that case, OPEC may have to rely more heavily next year on growing demand for other fuels, such as distillate and jet fuel, and emerging markets.
|
|
But the consequence of heavy refining runs is that distillate stockpiles have started to rise after falling through most of the second and third quarters (tmsnrt.rs/2cZOqp0).
|
|
And each one, after conception, is deftly peeled bare until it reveals some distillate of the cosmic laws that govern our bodies and the spaces around them.
|
|
If the expansion or contraction is synchronized globally, the impact on distillate demand becomes much more pronounced than if it is concentrated in only a few regions.
|
|
But gasoline and distillate are co-products from the same refining process, so refiners have no option but to cope with the resulting large swings in margins.
|
|
If the global economy accelerates again, however, then strong freight demand coupled with the new IMO regulations will likely push the premium for distillate fuels even higher.
|
|
For refined products, transportation and terminal revenue rose $15.2 million as it raised pipeline rates, with distillate demand 1% higher than in the second quarter of 2018.
|
|
Distillate prices remain buoyant and refining margins are the highest for the time of year since 2015, increasing the incentive to process as much crude as possible.
|
|
NEW YORK (Reuters) - U.S. crude stocks surprisingly rose last week, while gasoline and distillate inventories decreased, data from industry group the American Petroleum Institute showed on Tuesday.
|
|
Distillate fuels stockpiles, which include diesel and heating oil, fell by 2.9 million barrels, compared with expectations for a 1.2 million-barrel gain, the API data showed.
|
|
Distillate consumption was down by about 218,2200 barrels per day (bpd), more than 2000 percent, from the previous year, U.S. Energy Information Administration data shows (tmsnrt.rs/163T216Xca).
|
|
Assuming that the coming winter brings temperatures closer to average, distillate consumption could rise by about 18 million barrels, or 200,000 bpd, compared with winter 2015/16.
|
|
LONDON (Reuters) - U.S. stocks of distillate fuel oil, which have been trending downwards all year, now look tight following disruption to major refineries caused by Hurricane Harvey.
|
|
Offsetting that increase, the EIA data showed inventories of gasoline and distillate fuel, which includes heating oil and diesel, both fell by more than 5 million barrels.
|
|
U.S. refiners and traders exported 22016,227 bpd of gasoline in the week ending on May 28, and a near-record 1.25 million bpd of distillate fuel oil.
|
|
U.S. crude oil inventories rose in the most recent week, while gasoline and distillate stocks fell, data from industry group the American Petroleum Institute showed on Tuesday.
|
|
Distillate stockpiles USOILD=ECI, which include diesel and heating oil, increased by 2.5 million barrels, versus expectations for a 1.8 million-barrel increase, the EIA data showed.
|
|
Distillate fuels stockpiles, which include diesel and heating oil, fell by 2.5 million barrels, compared with expectations for a 1.3 million-barrel drop, the API data showed.
|
|
Worldwide distillate consumption fell by 0.5 percent in 20173, the first annual decline since the global financial in 2009 and only the third since 1990 (tmsnrt.rs/2f875ja).
|
|
After settlement, industry group the American Petroleum Institute said its data showed that last week U.S. crude stocks fell, while gasoline inventories increased and distillate stocks drew.
|
|
U.S. Gulf Coast refineries have become a powerhouse of distillate exports amid a rise in demand from Latin America and West Africa due to refinery outages there.
|
|
Refiners therefore have a strong commercial incentive to maximize distillate output, which should ensure crude intake remains high, and spread tightness into the crude market (tmsnrt.rs/2zJ8KEC).
|
|
Colonial Pipeline Co will restart Texas portions of its main distillate on Monday and gasoline line on Tuesday also shut by Harvey, the company said on Sunday.
|
|
U.S. refiners have rarely squeezed more middle distillate from each barrel of crude they process, according to data from the U.S. Energy Information Administration (EIA) (tmsnrt.rs/2100PHrexW).
|
|
Light distillate stocks in Singapore, which include the key transportation fuel gasoline and important petrochemical feedstock naphtha, rose by 1.47 million barrels in the week to Jan.
|
|
Refiners will likely process an additional 2.5 million barrels of crude daily to make additional distillate, said Robert Herman, executive vice president of refining at Phillips 66.
|
|
In theory, distillate prices should be supported by the scheduled introduction of new marine fuel regulations by the International Maritime Organization (IMO) from the start of 2020.
|
|
Gasoline stocks USOILG=ECI fell 8853 million barrels to the lowest level since December 2017, while distillate stockpiles USOILD=ECI dropped by 77,000 barrels, the EIA data showed.
|
|
"Just that distillate is coming in is a little surprising, wherever it is coming from," Mark Routt, chief economist for the Americas at KBC Advanced Technologies in Houston.
|
|
She shows me a spreadsheet they consult that does the math for them once they plug in the quantity of THC-infused distillate required for any given recipe.
|
|
Until recently, most traders anticipated a shortage of distillate fuels later in the year as the economy avoided recession and the switch to IMO-compliant fuels took place.
|
|
Total refined oil product exports rose to 3.6 million bpd in October, with gasoline exports rising to 732,0003 bpd and distillate fuel exports rising to 1.5 million bpd.
|
|
As a result, U.S. distillate stocks have fallen by 24 million barrels since the start of the year, compared with a normal seasonal rise of 6 million barrels.
|
|
Gasoline stocks probably dropped 1.3 million barrels last week, while distillate inventories, which include heating oil and diesel fuel, likely decreased by a million barrels, the poll showed.
|
|
U.S. crude stocks rose more than expected last week, while gasoline inventories increased and distillate stocks drew, data from industry group the American Petroleum Institute showed on Tuesday.
|
|
In the third quarter this year, the refiner operated its crude distillate units at 97.4%, down from 99.2% in the second quarter, according to the company's earnings statement.
|
|
NEW YORK, (Reuters) - U.S. crude stocks fell last week while gasoline inventories decreased and distillate stocks built, data from industry group the American Petroleum Institute showed on Tuesday.
|
|
The company exported record volumes of gasoline and distillate fuel combined in the second quarter, particularly to Latin America, but gasoline sales at home also showed strong growth.
|
|
Most middle distillate fuels such as diesel, gasoil and jet fuel are consumed in freight transport (ships, trucks, railroads and air cargo) as well as manufacturing and mining.
|
|
Margins for distillate products, however, held their ground, due to French imports and hot weather across Asia that boosted demand for distillates to be used in power generators.
|
|
But if refiners cut crude processing to limit the build up of distillate and other non-gasoline stocks, they risk not producing enough gasoline to meet drivers' needs.
|
|
Coupled with the slowdown in freight movements, lower heating demand has sent U.S. consumption of distillate fuel oil tumbling to its lowest level in more than a decade.
|
|
In response to the data showing the drawdown in diesel and heating oil stocks, distillate cracks, an indication of refining margins, rose 1 percent to $15 a barrel.
|
|
As stocks have shrunk, distillate prices and margins have risen to encourage refiners to produce more of the fuel, with a clear uptrend since the end of June.
|
|
Demand for diesel and other distillate fuels is expected to rise 30,000 bpd this year to 4.17 million bpd, up by 10,000 bpd from the previous month's forecast.
|
|
Wood Mackenzie estimates that by 2020, middle distillate margins could average as much as $25 per barrel, nearly triple this year's average of just over $9 per barrel.
|
|
The market was less affected by a larger-than-expected 3.4 million-barrel drawdown in U.S. crude inventories, although gasoline and distillate stocks rising more than anticipated weighed.
|
|
FUJAIRAH STOCKS - Middle distillate inventories in the Fujairah Oil Industry Zone (FOIZ) dropped 24.4 percent from a week ago to 1.8 million barrels in the week to Feb.
|
|
Slower manufacturing and trade growth is expected to create more room for the distillate market to absorb the impact of IMO fuel rules without a spike in prices.
|
|
It would certainly appear that the conditions for a sharp rise in exports of gasoil, the refinery term for middle distillate fuels diesel and kerosene, are in place.
|
|
FUJAIRAH STOCKS - Middle distillate inventories in the Fujairah Oil Industry Zone (FOIZ) rose 103 percent from a week ago to 211 million barrels in the week to Feb.
|
|
"Refiners should be concerned with the continued increase in gasoline and distillate inventories, which will pressure refining margins," said Andrew Lipow, president of Lipow Oil Associates in Houston.
|
|
Exports of distillate fuel oil rose to a record 1.63 million barrels per day (bpd) in the week ending April 14, according to the U.S. Energy Information Administration.
|
|
Hedge funds and other money managers have responded by building one of the largest bullish positions in distillate since crude oil prices crashed in the middle of 2014.
|
|
Unlike gasoline stocks, which have shown an unusual counter-seasonal build up over the first part of the summer, distillate stocks have exhibited an unusual counter-seasonal drawdown.
|
|
The market was less affected by a larger-than-expected 0003 million-barrel drawdown in U.S. crude inventories, although gasoline and distillate stocks rising more than anticipated weighed.
|
|
U.S. crude stockpiles climbed last week as imports increased, while gasoline inventories climbed and distillate stocks were drawn down, industry group the American Petroleum Institute said on Tuesday.
|
|
Distillate stocks have risen to 140 million barrels up from a recent low of just 114 million barrels in mid-May ("Weekly Petroleum Status Report", EIA, Sept. 19).
|
|
Oil prices were also under pressure after U.S. crude oil inventories rose in the most recent week, while gasoline and distillate stocks fell, American Petroleum Institute data showed.
|
|
Slowing distillate consumption growth is consistent with a broad range of other indicators pointing to a sharp slowdown in manufacturing and a downturn in construction and freight transportation.
|
|
U.S. crude stocks fell last week as refineries hiked output and imports dropped, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.
|
|
U.S. refiners produced more than 5.4 million barrels per day of distillate fuel last week, a seasonal record, and more than 600,000 bpd above the ten-year average.
|
|
Midwest refiners are running at the highest rates for this time of year since 23 to chase a distillate refining margin that is the strongest in five years.
|
|
U.S. crude oil inventories last week tumbled more than expected to their lowest level since 2015, the EIA said on Wednesday, as U.S. gasoline and distillate stockpiles fell.
|
|
So some black market sellers turned to vitamin E acetate -- which is more viscous and resembles THC distillate -- to cut their product while still passing the bubble test.
|
|
"Even though the overall crude number was bearish, the gasoline numbers and distillate numbers were pretty bullish," said Phil Flynn, an analyst at Price Futures Group in Chicago.
|
|
Still, gasoline stocks are expected to have risen for a seventh week in a row and distillate inventories are forecast to have gained for a fifth consecutive week.
|
|
Tom Nimbley, chief executive of PBF, said the oversupply situation could be alleviated as refiners shift their production from gasoline to distillate fuels like diesel and jet fuel.
|
|
Gasoline stocks likely fell 1.3 million barrels last week, while distillate inventories, which include heating oil and diesel fuel, likely decreased by a million barrels, the poll showed.
|
|
In contrast, there was not much activity on this route early in July, when traders were exploring shipping middle distillate cargoes on a reverse arbitrage from Europe to Asia.
|
|
The bottom line is that traders expect the distillate market to tighten, but not until the U.S. summer driving season is over and the IMO regulations get much closer.
|
|
The U.S. Energy Information Administration currently projects distillate consumption will rise by around 80,000 bpd in 2017 and another 110,000 bpd in 2018 ("Short-Term Energy Outlook", Feb. 2017).
|
|
Estimating errors are potentially much more serious for distillate fuel oil, where exports averaged almost 1.2 million bpd in 2015, compared with domestic consumption of almost 4.0 million bpd.
|
|
U.S. crude, gasoline and distillate inventories dropped this week, with crude posting an unexpected drawdown, the first in four weeks, the Energy Information Administration (EIA) data showed on Wednesday.
|
|
Despite the reduction in processing, there has been no shortage of either gasoline or distillate fuel oil, with gasoline stocks level with last year and distillates comfortably above it.
|
|
U.S. crude stockpiles fell more than forecast last week, while gasoline inventories decreased and distillate stocks built, data from industry group the American Petroleum Institute (API) showed on Tuesday.
|
|
Futures prices are anticipating a colder winter in the northern hemisphere in 2016/17 and a gradual pick up in freight demand both of which would boost distillate demand.
|
|
"The tension between distillate and gasoline production has continued with refiners yield switching from one to the other as the market suits them," Credit Suisse said in a note.
|
|
But that won't work at the moment because most of the other major refining and consuming regions have the same problem of too much distillate and not enough gasoline.
|
|
API INVENTORY DATA - U.S. crude stocks rose last week as imports rose, while gasoline and distillate inventories decreased, data from industry group the American Petroleum Institute showed on Wednesday.
|
|
However, if the U.S. and global economies can avoid a recession, the weather should at least be more favourable for distillate consumption in 2016 than it was in 2015.
|
|
But this possibility, which it said would leave Europe's distillate-focused refineries most exposed, does not portend a rougher ride for margins, thanks to the International Maritime Organization (IMO).
|
|
Several units process residual fuel oil, the leftovers after crude oil is initially refined, into higher-value gasoline and distillate products as well as remove pollutants such as sulfur.
|
|
Gross refining margins for producing distillate fuel oil from U.S. crude rose from $22018 per barrel in June to more than $26.8 per barrel in the middle of November.
|
|
LONDON (Reuters) - Global distillate markets remain heavily oversupplied but the glut will not clear unless the world economy avoids recession and there is a renewed acceleration in freight demand.
|
|
"With the market moving into the winter season, distillate fuel supplies are notably tight, representing a change from the excess supplies seen in the last two years," OPEC said.
|
|
Oil and gas drilling also supports distillate consumption directly because diesel-electric generators provide power for drilling rigs as well as auxiliary supplies for heating, lighting and other operations.
|
|
Earlier in the summer, most analysts were talking about a gasoline glut, which would force refiners to cut refinery throughput, and support distillate markets in the autumn and winter.
|
|
Most distillate is being exported to Mexico, Brazil and other countries in Latin America and the Caribbean, where ageing local refineries are struggling to keep up with growing demand.
|
|
But U.S. domestic distillate consumption is also forecast to rise again in 2017 after falling significantly in 2016 and 2015 which will tighten the supply-demand balance even further.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 5.7 million barrels, more than three times more than expectations for a 1.6 million-barrel drop, the EIA data showed.
|
|
Distillate prices have also moved to a significant premium over crude oil to encourage refiners to maximize crude processing and the yield to middle distillates rather than other products.
|
|
The increase in refinery output was concentrated in the U.S. Gulf Coast region, resulting in the largest weekly build in U.S. distillate inventories on record, according to the EIA.
|
|
The reported surplus in distillate stocks over the long-term average is 31 million barrels but adjusted for weak demand the surplus surges to 123 million barrels (tmsnrt.rs/20WQE4M).
|
|
There is some limited flexibility in the refining system to switch from distillate production to gasoline but it is typically only on the order of a few percentage points.
|
|
San Antonio, Texas-based Valero said operating income from its refining business, its largest revenue generator, rose 52.2 percent to $982 million, helped by higher distillate and gasoline margins.
|
|
NEW YORK (Reuters) - U.S. crude oil stocks fell more than expected last week, while gasoline and distillate inventories rose more than forecast, the Energy Information Administration said on Wednesday.
|
|
On the best of days, Organa scientists can get a 22 percent yield, meaning 22 grams of flower produces one gram of distillate oil that pushing 90 percent THC.
|
|
Colonial Pipeline said that demand on its main distillate line fell below capacity for the first time in nearly six years as the East Coast remained awash in fuel.
|
|
It is a reminder, too, of a different age of gallantry and pain, before human experience was compressed into a pixelated fragment, a fleeting distillate transacted on social media.
|
|
U.S. crude stocks fell sharply last week as refineries increased output and imports declined, while gasoline stocks decreased and distillate inventories fell, the Energy Information Administration said on Wednesday.
|
|
"What made the release even more bearish was the fact that we also saw large stock builds for gasoline and distillate fuel oil," ING Economics said in a note.
|
|
U.S. gasoline stockpiles last week rose to their highest since February, while distillate inventories jumped to their most since September 22020, according to the U.S. Energy Information Administration (EIA).
|
|
Rising prices for a whole range of primary commodities, including oil, will also spur faster economic growth in commodity-dependent developing countries, giving an extra impetus to distillate demand.
|
|
Crack spreads, the difference between the prices of crude oil and refined products, have narrowed sharply due to a spike in distillate and gasoline inventories in the United States.
|
|
U.S. Gulf Coast distillate stocks fell 4.5 million barrels in the first week of October, the largest drawdown since September 2005, data from the Energy Information Administration (EIA) showed.
|
|
"The big rise in distillate inventories should weigh, as the category assumes the mantle of seasonal leadership," said John Kilduff, partner at New York energy hedge fund Again Capital.
|
|
"Healthy global economic developments and increased industrial activity should support the demand for distillate fuels in the coming months, leading to a further drawdown in diesel inventories," it said.
|
|
Some shipowners and operators, especially those with larger ships, strongly prefer VLSFO over MGO because of technical issues related to running on distillate fuel as opposed to heavy fuels.
|
|
U.S. gasoline and distillate stocks surged unexpectedly last week, government data showed, crimping margins for refiners at the height of summer driving season when demand for fuels were generally healthy.
|
|
U.S. crude stocks fell less than expected last week, while distillate inventories rose the most since January and gasoline stocks unexpectedly increased, the Energy Information Administration (EIA) said on Wednesday.
|
|
The other oils include special gas for smaller airplanes and less-known industrial oils, which refiners typically crank out when there is too much gasoline and distillate supply, Davis said.
|
|
Energy Information Administration data showed the U.S. crude oil inventories fell for the third consecutive week but gasoline and distillate stockpiles posted a surprise build as refiners ramped up output.
|
|
Oil prices jumped, extending gains after a U.S. government report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories.
|
|
U.S. crude inventories fell more than expected last week as refineries hiked production, but gasoline and distillate stockpiles showed bigger-than-expected builds, the Energy Information Administration said on Wednesday.
|
|
The company last Friday shut its main gasoline and distillate lines that run from the Gulf Coast to the East Coast after a leak was discovered in Shelby County, Alabama.
|
|
Increased exports included an extra 221,2146 bpd of crude, 225,211 bpd of natural gas liquids, 25,225 bpd of gasoline, 22018,210 bpd of distillate fuel oil and 47,000 bpd of lubricants.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 2.9 million barrels to 163.6 million barrels, compared with expectations for a 1.2 million-barrel drop, the EIA data showed.
|
|
In the last year Stanlow has processed 37 more grades of crude and the expansion is geared toward further diversifying supplies to process cheaper grades while improving middle distillate yields.
|
|
U.S. crude stocks fell sharply last week as refineries boosted output, while gasoline inventories increased and distillate stocks decreased, data from industry group the American Petroleum Institute showed on Tuesday.
|
|
Earlier this year, the International Energy Agency assessed the new regulations would divert around 200,000-250,000 barrels per day of low sulfur distillate from other uses to the shipping industry.
|
|
Oil prices fell roughly 3 percent on Wednesday after data showed a large surprise weekly build in U.S. crude and distillate stockpiles and a smaller-than-expected drawdown in gasoline.
|
|
Distillate stocks have moved from a surplus of 25 million barrels over the 173-year average in February to 217 million barrels below the average at the start of December.
|
|
Oil prices jumped nearly 254.6 percent after a U.S. report showed a bigger weekly draw than expected in crude and gasoline stocks, along with an unexpected drop in distillate inventories.
|
|
Gulf Coast middle distillate exports are at over 1.2 million barrels per day so far in April, a five-month high, said Matt Smith, director of commodity research at ClipperData.
|
|
Distillate consumption, which is closely linked to industrial activity and freight movements, is growing rapidly as a result of the synchronised global economic expansion and faster growth in world trade.
|
|
Until recently, distillate consumption was expected to rise substantially from the start of next year as a result of new marine pollution rules introduced by the International Maritime Organization (IMO).
|
|
NEW YORK, Jan 4 (Reuters) - U.S. crude stocks tumbled during the final week of 2016, while gasoline and distillate inventories surged, the American Petroleum Institute, a trade organization, said Wednesday.
|
|
Rising distillate prices will force the freight transportation sector to focus on improving fuel economy by trimming schedules, consolidating loads, switching from air freight to ocean shipping, and slow steaming.
|
|
HOUSTON (Reuters) - Total SA returned a distillate hydrotreater to normal operation on Monday night at its 225,500 barrel-per-day (bpd) Port Arthur, Texas, refinery, said Gulf Coast market sources.
|
|
U.S. crude stocks fell less than expected last week, while gasoline stocks unexpectedly increased and distillate inventories rose the most since January, the Energy Information Administration (EIA) said on Wednesday.
|
|
NEW YORK (Reuters) - U.S. crude oil stockpiles rose unexpectedly last week even as gasoline and distillate inventories fell more than expected, data from the Energy Information Administration showed on Wednesday.
|
|
It has fallen 2.6 percent since last week, pressured by a faster-than-expected restart to the Keystone pipeline and a rise in U.S. stockpiles of gasoline and distillate fuels.
|
|
The refining margin for making distillate from U.S. crude oil for November delivery has risen to $25 per barrel up from $19 in late August and $15 in late June.
|
|
Distillate stockpiles are currently 24 percent higher than the long-term average but once adjusted for weak consumption they are 43 percent higher than normal for the time of year.
|
|
In it, the figurative language and the lyricism and the flights of rhetoric and fancy have been boiled off, leaving a distillate of prose that is both crystalline and austere.
|
|
Miller had explained that the THC and CBD make up the 88 percent of the oil that's comprised of cannabinoid distillate, while terpenes, or aromatic molecules, make up the rest.
|
|
NEW YORK (Reuters) - U.S. crude oil stockpiles fell unexpectedly last week as imports dropped, while gasoline and distillate inventories decreased less than forecasts, the Energy Information Administration said on Wednesday.
|
|
Midwest distillate consumption was up by just 193% in February-April compared with the same period a year earlier, down from peak growth of more than 4% in August-October.
|
|
DIESEL SLUMP The manufacturing and freight slowdown has also hit petroleum demand, especially consumption of the middle distillate fuel oils such as diesel used by manufacturers, railroads and trucking firms.
|
|
Until recently, fears of cyclical shortages were exacerbated by the scheduled introduction of new regulations on shipping fuels, which are likely to boost distillate consumption from the start of 2020.
|
|
The distillate market seems to have re-found its balance and availability should remain high unless global trade accelerates again or the northern hemisphere winter is unusually long and cold.
|
|
Analysts polled by Reuters forecast that data would show U.S. crude stockpiles USOILC=ECI fell for a seventh consecutive week, along with a probable drop in distillate and gasoline inventories.
|
|
U.S. gasoline stocks slumped 8.4 million barrels, the largest one-week decline since the U.S. Energy Department started recording the data in 1990, while distillate stocks fell 3.2 million barrels.
|
|
As a result, the ratio of distillate to gasoline production is at the highest level since the summer of 216, when oil prices were spiking before the global financial crisis.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 152,000 barrels in the week to 124.9 million barrels, versus expectations for an 800,000-barrel rise, the EIA data showed.
|
|
U.S. demand for diesel and other distillate fuels is expected to rise 20,000 bpd to 4.15 million bpd in 2019 and to rise to 4.19 million in 2020, the agency said.
|
|
Gasoline stocks USOILG=ECI rose 6.9 million barrels last week, while distillate stockpiles USOILD=ECI grew 4.5133 million barrels, the EIA said, compared with forecasts for builds under 2 million barrels.
|
|
Crude oil futures took back some lost ground after skidding on news of a large weekly build in U.S. crude and distillate stockpiles and a smaller-than-expected drawdown in gasoline.
|
|
With La Niña conditions forecast, which could bring colder weather and more heating demand in the north of the United States between December and February, the U.S. distillate market appears tight.
|
|
"We've seen a run up in heating oil futures, and I think that particular product has supported the rise of WTI," said Tjornehoj, while noting that distillate prices fell on Monday.
|
|
Despite weak demand, the supply of distillate fuel oil is increasing because U.S. refineries are processing crude oil at a seasonal record high to meet strong demand from motorists for gasoline.
|
|
U.S. crude stocks fell sharply last week, including a large draw at the U.S. hub in Cushing, Oklahoma, while gasoline and distillate inventories dropped, the industry group American Petroleum Institute said.
|
|
At the moment, Power was attempting to rid his juniper sludge of terpenes—long, repeating chains of carbon and hydrogen that evaporate early, in what's called the "head" of the distillate.
|
|
But the warm winter turned a modest slowdown into a major problem for refiners by slashing seasonal distillate consumption in the final two months of 2015 and the start of 2016.
|
|
"Unless severely cold temperatures in the Northeast coincide with severely cold temperatures in Europe, ample distillate supplies should be available to meet demand, but localized supply issues are possible," EIA said.
|
|
But the main concern focuses on how many ship owners will switch to using marine gasoil, which is essentially the same product as road diesel, distillate fuel oil, and jet fuel.
|
|
But distillate prices have softened rather than strengthened relative to crude over the last year as the global slowdown in manufacturing and freight has cut the expected growth in fuel consumption.
|
|
Fund managers' ratio of long to short positions in the main middle distillate futures and options contracts has fallen from 13:1 in June 2018, as the economic outlook has darkened.
|
|
U.S. gasoline and distillate stocks rose more than expected, however, in part due to weak implied gasoline demand, which fell to a five-year seasonal low in the most recent week.
|
|
HOUSTON (Reuters) - Colonial Pipeline Co on Monday will restart Texas portions of its main distillate and gasoline lines shut by Hurricane Harvey, the biggest U.S. fuels system operator said on Sunday.
|
|
The main distillate line between Houston and Hebert, Texas, is expected to restart by Monday, and the gasoline line between those two points is expected to be in service by Tuesday.
|
|
U.S. distillate demand, which includes heating oil, was up 22016 percent, or 227,000 bpd, from a year earlier at 4.165 million bpd, compared with a decline of 0.5 percent in October.
|
|
Sluggish freight and industrial output are weighing on demand for distillate fuel oil, where consumption growth has been weakening since the start of 2015 and became negative in October (tmsnrt.rs/1Pg1jky).
|
|
But gasoline stocks rose by 6.8 million barrels, well above the 1.7 million-barrel gain analyst had expected, and distillate stocks, which include diesel and heating oil, rose 1.7 million barrels.
|
|
Sinanju's bunker tanker, the Marine Pamela, is Singapore's first distillates bunker tanker installed with two flow meter systems and was involved in the test procedures for distillate MFMs, the company said.
|
|
NEW YORK (Reuters) - U.S. crude oil stockpiles jumped unexpectedly last week despite record high refinery runs, while gasoline stocks decreased and distillate inventories grew, the Energy Information Administration said on Wednesday.
|
|
Looking ahead, Barclays said it expects distillate inventories will exit the year close to parity with the five-year average, calling it a "drastic improvement" compared with the last few years.
|
|
Gasoline and distillate prices led the rally in crude between June and the middle of November and now profit-taking on the products side has caused the crude rally to stall.
|
|
Refiners have carried on processing at elevated rates well after the end of the normal summer driving season and into September in order to rebuild previously depleted distillate stocks (tmsnrt.rs/2216MKZGBz).
|
|
Oil prices rose on Wednesday, turning positive after U.S. government data showed a bigger weekly draw than expected in domestic crude inventories along with unexpected declines in gasoline and distillate stocks.
|
|
Distillate consumption is therefore most heavily exposed to the business cycle and the recent slowdown is consistent with business surveys and government data showing the rate of economic growth is decelerating.
|
|
Distillate stockpiles, which include diesel and heating oil, rose by 5.3 million barrels in the week to 139 million barrels, versus expectations for a 3.9 million-barrel rise, the data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell 1.3 million barrels in the week to 144.7 million barrels, versus expectations for a 1.1 million-barrel drop, the EIA data showed.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 1.2 million barrels in the week to 146 million barrels, versus expectations for a 1 million-barrel rise, the data showed.
|
|
With nearly all regions of the global economy experiencing a synchronized economic expansion and world trade volumes are growing at the fastest rate for six years, distillate demand is growing rapidly.
|
|
Commodity exporters accounted for some of the strongest growth in oil consumption, primarily diesel, before oil prices slumped in 2014, and could drive strong distillate demand growth again in 2018/19.
|
|
Distillate stockpiles, which include diesel and heating oil, rose 4.6 million barrels, the biggest weekly increase since January, putting them at their highest level on a seasonal basis in six years.
|
|
OTC Asia will replicate its North American and European offerings by broking European and Asian crude swaps, distillate swaps and cracks, and physical fuel broking, the company said in a statement.
|
|
Distillate stockpiles, which include diesel and heating oil, fell by 2 million barrels in the week to 143.2 million barrels, versus expectations for a 557,000-barrel drop, the EIA data showed.
|
|
The sharp fall in stocks was in part due to increased refining output that boosted distillate and gasoline stocks, along with a notable drop in imports, and the rise in exports.
|
|
The likely outcome is a sharp narrowing of gasoline and distillate cracks when the post-hurricane trades unwind, with crude and especially WTI prices rising while gasoline and diesel come under pressure.
|
|
NEW YORK (Reuters) - U.S. crude oil inventories rose slightly less than expected last week, while distillate stockpiles posted an unexpected and huge drawdown, data from the Energy Information Administration showed on Wednesday.
|
|
Distillate stockpiles, which include diesel and heating oil, have now fallen for seven weeks straight, hitting the lowest level last week since early December 2015, data from the Energy Information Administration showed.
|
|
Distillate consumption is forecast to increase by 60,000 barrels per day in 2017, after falling by 120,000 bpd in 2016 and 40,20163 bpd in 2015, according to the U.S. Energy Information Administration.
|
|
The United States exported record quantities of natural gas, propane, gasoline, distillate fuel oil and light crude last year while continuing to import the heavy oils needed by its refineries (tmsnrt.rs/2moUMBU).
|
|
During the summer driving season, gasoline stocks normally fall while diesel stocks rise, as refiners run hard to produce motor fuel and find themselves with too much distillate as a by-product.
|
|
Distillate demand was unusually low at the start of the year and stocks were at the highest level since 2011 as a result of an unusually warm winter and sluggish freight movements.
|
|
The only solution is to keep producing as much gasoline as possible, put the surplus distillate and other products into storage, and hope tank space onshore and offshore does not run out.
|
|
U.S. distillate demand, which has been pummeled by a historically mild winter, fell 9.9 percent from January last year, as warmer weather for most of the month cut demand for heating oil.
|
|
U.S. distillate consumption started to become sluggish in the second quarter of 2015, long before the winter heating season, about the same time the slowdown in freight movements became apparent (tmsnrt.rs/1n1dNpn).
|
|
LAUNCESTON, Australia (Reuters) - - It may prove only temporary relief, but Asian refiners appear set to enjoy higher margins in coming weeks for gasoil, the middle distillate that includes diesel and jet fuel.
|
|
Both U.S. crude and product futures extended their losses in post-settlement trade after an industry report showed that U.S. crude stockpiles rose sharply last week, while gasoline and distillate inventories built.
|
|
Distillate and gasoline prices and margins have been under pressure since the middle of November, amid signs that fuel markets are no longer in deficit, which has effectively capped crude oil prices.
|
|
Drawdowns were acute on the East Coast, where distillate stockpiles fell to 45.3 million barrels, lowest since June of 5143, ahead of an anticipated rise in heating oil demand as winter approaches.
|
|
"It's a mixed bag for both bulls and bears as crude stocks continue to rise while gasoline and distillate stocks dropped," said Chris Jarvis, analyst at Caprock Risk Management in Frederick, Maryland.
|
|
Distillate margins have been falling progressively since the middle of last year as the global business cycle has entered a slower phase and fears of an outright recession have grown (tmsnrt.rs/219k1tgdY).
|
|
Distillate demand jumped 6.8 percent, or 251,000 bpd, in July year-on-year, while gasoline demand was up 14.73 percent, or 67,000 bpd, in July compared with last year, EIA data showed.
|
|
Gross margins for distillate delivered in January 2020 firmed to more than $21 in mid-October, up from $5 in June (margins over WTI were $27 in October and $23 in August).
|
|
Late-cycle growth in distillate demand during 22019 and 2018 has left inventories relatively low while the introduction of new IMO regulations threatens to tighten them even further in 2019 and 2020.
|
|
One terminal operator in the New York Harbor region which receives distillate fuel supplies from Colonial said it expects disruptions to its next batch of supplies set to arrive on Sept. 6.
|
|
However, switching cut points and changing catalysts to increase distillate yields at the expense of naphtha and gasoline is unlikely to be enough on its own to bring gasoline stocks under control.
|
|
Distillate stocks had fallen to just 139 million barrels by the end of last week, which was 25 million barrels below 2016 and 5 million barrels below the long-term seasonal average.
|
|
Oil prices fell anew after briefly spiking on Wednesday after government data showed gasoline and distillate inventories fell more than expected, offsetting a surprise rise in U.S. crude stocks as imports increased.
|
|
Yawger noted that a sharp drawdown in U.S. distillate inventories - diesel and heating oil - ahead of the busy winter season should spur demand for crude in coming weeks, keeping any selloff modest.
|
|
Refiners produced a seasonal record 223 million bpd of distillate last week, up from 221 million bpd in 216 and 5.0 million bpd in 2016, according to the U.S. Energy Information Administration.
|
|
Although some of Organa's products are a mixture of trim—the leaves of the cannabis plant—and buds, its top-shelf oils like the 297 percent Bakked distillate use only the flower.
|
|
Oil prices fell on Thursday after weekly government data showed a surprise rise in U.S. crude stockpiles last week as refineries cut output, while gasoline stocks decreased and distillate fuel inventories rose.
|
|
"Expectations were that we would see a large share of the shipping industry shift to marine gasoil, which would be a bullish scenario for middle distillate cracks," ING said in a note.
|
|
"Expectations were that we would see a large share of the shipping industry shift to marine gasoil, which would be a bullish scenario for middle distillate cracks," ING said in a note.
|
|
NEW YORK (Reuters) - U.S. crude oil stockpiles rose more than expected last week, building for the ninth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday.
|
|
If refinery runs remain strong throughout the remainder of August and September, which seems likely in the absence of a hurricane strike on the Texas-Louisiana coast, distillate availability should improve significantly.
|
|
This has sent prices in the region plummeting from a one-year high reached in mid-November, when distillate stockpiles fell due to a lengthy refinery maintenance season and strong product buying.
|
|
U.S. gasoline demand ticked up 218.56,18.183 bpd, or less than 218.18 percent, to 216.14 million bpd and distillate demand fell 22018,000 bpd, or 0.09 percent, to 3.36 million bpd, the data shows.
|
|
But with prices already starting to adjust, there is probably enough flexibility in the system to enable it to meet the rise in middle distillate demand over the next 12-15 months.
|
|
Funds were net buyers of 5 million barrels of gasoil futures and options contracts last week, after buying 3 million the week before, signalling the recent distillate liquidation cycle may be over.
|
|
NEW YORK (Reuters) - U.S. crude stocks fell last week as imports plummeted, dropping after nine consecutive increases, while gasoline and distillate inventories declined more than expected, the Energy Information Administration said on Wednesday.
|
|
But as refiners cut back on crude processing and gasoline production in the autumn, distillate markets are expected to tighten with winter heating demand and the entry into force of IMO bunkering rules.
|
|
Before then, the gasoil market is set to remain in surplus through the third quarter, which likely explains why most hedge funds are maintaining a relatively neutral position on near-term distillate prices.
|
|
In commodities, U.S. crude oil futures were down 0.4 percent at $57.38 per barrel after American Petroleum Institute data showed that U.S. gasoline stocks and distillate inventories rose more than expected last week.
|
|
Distillate stocks have fallen by 37 million barrels so far in 2017, compared with a 10-year average of just 4 million, and are now 24 million below the same point in 2016.
|
|
Distillate fuel oils, used to move freight by road, rail, sea and air, as well as by manufacturers, farmers, oil drillers and miners, have seen relatively subdued demand growth so far this year.
|
|
To be sure, some industry analysts believe that a glut of refined fuel supplies could temporarily drag oil prices lower as refineries take in less crude until gasoline and distillate inventories draw down.
|
|
In commodities, U.S. crude oil futures were down 0.7 percent at $57.38 per barrel after American Petroleum Institute data showed that U.S. gasoline stocks and distillate inventories rose more than expected last week.
|
|
Signs of strong U.S. demand for distillate products and tightening global crude supply boosted oil prices but gains were capped by a rising U.S. dollar and ongoing concerns about a global economic slowdown.
|
|
Refiners across China, India and the Middle East are all trying to dispose of surplus distillate stocks by exporting them ("China's perfect diesel storm poised to hit Asian fuel market", Reuters, March 31).
|
|
Run cuts should eventually rebalance the gasoline market but will tighten the distillate market even further, supporting heating oil cracks ("Hedge funds to U.S. refiners: produce less gasoline, more diesel", Reuters, July 4).
|
|
Signs of strong U.S. demand for distillate products and tightening global crude supply boosted oil prices, but gains were capped by the rising U.S. dollar and ongoing concerns about a global economic slowdown.
|
|
Distillate prices are also being supported by the prospect of even higher consumption from the start of 20173 when new pollution regulations on bunker fuels used in the shipping industry come into force.
|
|
In the commodities market, Morgan Stanley anticipates relative strength in international benchmark prices and futures that let traders bet on the difference between crude oil and middle distillate prices, known as crack spreads.
|
|
Brent and U.S. crude's West Texas Intermediate (WTI) futures had advanced closer to $22.8 a barrel on Wednesday after large gasoline and distillate drawdowns were announced by the U.S. Energy Information Administration (EIA).
|
|
The U.S. Energy Information Administration is forecasting distillate fuel oil consumption will rise by 130,000 barrels per day in 2017, after declining by 180,000 in 2016 ("Short-Term Energy Outlook", EIA, Oct 2016).
|
|
The northern hemisphere winter in 2016/17 should be colder than the abnormally warm one in 2015/16, which will increase heating oil consumption ("Colder winter could save distillate market", Reuters, May 4).
|
|
"Potential non-compliance is a significant issue that the market has been contending with," Jason Breslaw, who leads BP's distillate trading origination across the Americas, said at an industry conference in New Orleans.
|
|
But concerns about distillate availability have evaporated in recent weeks - which may reflect greater confidence about the smooth introduction of the new rules but could also reflect fears about a global economic slowdown.
|
|
Distillate fuel oils are mostly used in manufacturing, freight transport, construction, mining, oil and gas production, and farming - as well as small amounts for home and commercial heating, especially in the U.S. northeast.
|
|
Fuel availability appears to have improved since the middle of the second quarter, with U.S. distillate stocks rising to almost 220 million barrels last week, up from just 216 million in mid-May.
|
|
The Hollowtips pen boasts "THC water clear distillate," which refers to a refined version of the psychoactive part of the cannabis plant, while Remo security will custom design bullet-resistant doors for nominees.
|
|
Oil prices jumped more than 1 percent on Wednesday after a U.S. report showed a bigger weekly draw than forecast in crude and gasoline stocks along with a surprise drop in distillate inventories.
|
|
There have been concerns that the current cold weather would stress already low distillate inventories on the U.S. East Coast during this recent run of colder-than-usual weather, though this figure offsets that.
|
|
U.S. crude, gasoline and distillate inventories fell last week, with crude posting an unexpected drawdown and its first in four weeks, the Energy Information Administration data showed on Wednesday, which also helped support prices.
|
|
U.S. refiners produced 5.5 million barrels per day of distillate in the four weeks leading up to Christmas, up from 5.25 million in the prior-year period, according to the U.S. Energy Information Administration.
|
|
For comparison, in 20153, around 2.5 million bpd of distillate was were sold as road fuel, while 250,000 bpd were sold to residential customers, 240,000 bpd to the railroads and 200,000 bpd to farms.
|
|
U.S. crude stocks rose last week, while gasoline and distillate inventories drew as refinery utilization rates plunged 11.1 percentage points to 83.9 percent of capacity, data from industry group the American Petroleum Institute showed.
|
|
"The report is mixed due to the dueling large build in crude oil inventories and steep decline in gasoline and distillate fuels," said John Kilduff, a partner at Again Capital Management in New York.
|
|
In a sign of just how bloated the market has become, Singapore's light distillate stocks, which includes gasoline, hit nearly 16 million barrels late last month, the highest on record, according to government figures.
|
|
But an unusual glut of gasoline - just as refiners are ramping up to produce more - has caught them on the wrong side of distillate margins for the second time in less than 12 months.
|
|
So far production of distillate fuel oil has increased by 115,000 bpd compared with 2018, while gasoline output is also up by 85,000 bpd, as refiners squeeze extra valuable fuels from their raw inputs.
|
|
For gasoil, the refinery term for the middle distillate that can be turned into diesel, the crack ended at $2400 a barrel on Wednesday, up 236.8 percent since the 18.4 low in early April.
|
|
Prices pared gains in post-settlement trade after data from the American Petroleum Institute (API) showed U.S. crude stocks rose last week as refineries cut output, while gasoline inventories increased and distillate stocks built.
|
|
Distillate stocks are up 13 million barrels or 9 percent from the same time last year and up from a surplus of just 3 million barrels or 2 percent four weeks ago (tmsnrt.rs/2cZNZve).
|
|
U.S. crude stockpiles rose nearly twice expected levels last week as refineries cut output following Hurricane Harvey, while gasoline and distillate inventories drew, industry group the American Petroleum Institute said after the market settled.
|
|
One of the sources said the plan is to process heavy, low-sulfur crudes like Brazilian grades to produce a range of products, including maximum 0.5 percent sulfur fuel oil or distillate marine fuels.
|
|
After two years in which gasoline was the main driver of global oil demand in 2015/16, demand growth is rotating to distillate fuel oil, and that looks set to continue through 2018/19.
|
|
U.S. distillate exports will remain more than 10 percent higher in 2018 than in 2016, with further increases possible with continued demand and unplanned refinery outages from Latin America and Europe, according to Moody's.
|
|
"We anticipate refiners will have a higher tilt toward distillate production heading into year-end ... In our view this will help set up an attractive 2018 gasoline market," Morgan Stanley said in a note.
|
|
Executives expect strong U.S. summer gasoline demand to reduce brimming stocks and support high refinery rates, while "good" demand in China, India, West Africa and Latin America can siphon distillate inventory overhang, he said.
|
|
Phillips, like others, shifted to making as much gasoline as possible because the warm winter and economic uncertainty depressed distillate demand, pushing crack spreads to their lowest since 2010, Chief Executive Greg Garland said.
|
|
Consumption of distillate fuel oil was up by 3% in the three months from February to April compared with the same period a year earlier, according to data from the U.S. Energy Information Administration.
|
|
OECD stocks of middle distillate fuels, including road diesel, marine gasoil and jet fuel, totalled 513 million barrels at the end of June, according to the International Energy Agency ("Oil Market Report", August 2018).
|
|
Adding to downward pressure, U.S. crude oil stockpiles surged last week as refinery output dropped to a two-year low, while gasoline and distillate fuel inventories decreased, the Energy Information Administration said on Thursday.
|
|
U.S. gasoline and distillate stocks fell sharply as Harvey shut nearly a quarter of the nation's capacity with major Gulf Coast refineries only starting to come back to life in the last few days.
|
|
On the supply side, U.S. crude oil and distillate inventories fell last week while gasoline stockpiles grew for an 11th consecutive week to an all-time high, the Energy Information Administration said on Thursday.
|
|
Jeff Searle, formerly a senior vice president at Martin Energy Trading, will become the new head of Houston trading, while Mike Dunlap, a former senior distillate trader, will head up the refined products trading.
|
|
Tepid demand from manufacturers and transport companies explains why distillate refining margins remain weak despite the scheduled introduction by the International Maritime Organization of new marine fuel rules at the end of the year.
|
|
But mid-distillate fuels are also the most exposed to a slowdown in global freight flows and manufacturing, and concerns about the economy are dominating over the prospect of the new IMO fuel rules.
|
|
A New York-based products trader said the penalty would strengthen a rally in distillate, or diesel, prices, including ultra-low sulfur diesel futures on the New York Mercantile Exchange, which rose 1 percent Thursday.
|
|
Oil prices pared losses in post-settlement trade after industry group the American Petroleum Institute reported that U.S. crude stocks fell last week as refineries boosted output, while gasoline inventories increased and distillate stocks fell.
|
|
"Product draws are helping to offset some of the bearish brunt of a double-digit build - both gasoline and distillate show a jump in implied demand," said Matt Smith, director of commodity research at ClipperData.
|
|
U.S. crude, gasoline and distillate inventories fell last week, with crude posting an unexpected drawdown and its first in four weeks, the Energy Information Administration (EIA) data showed on Wednesday, which also helped support prices.
|
|
Distillate consumption is driven by a combination of heating demand (the smaller but more variable share) and freight demand (far larger and more steady) and both look positive, or at least not negative, in 2017.
|
|
NEW YORK (Reuters) - U.S. crude stocks fell last week as refineries hiked output and net imports slid to the lowest on record, while gasoline and distillate inventories declined, the Energy Information Administration said on Wednesday.
|
|
COSTS AND BENEFITS The United States consumed 3.4 billion barrels of gasoline and 1.5 billion barrels of distillate fuel oil in 2018, according to the U.S. Energy Information Administration ( "Petroleum Supply Monthly," EIA, March 2019).
|
|
COSTS AND BENEFITS The United States consumed 3.4 billion barrels of gasoline and 1.5 billion barrels of distillate fuel oil in 2018, according to the U.S. Energy Information Administration ( "Petroleum Supply Monthly", EIA, March 2019).
|
|
NEW YORK (Reuters) - U.S. crude stocks last week rose to a record high for a third straight week as distillate inventories increased unexpectedly and imports grew, data from the Energy Information Administration showed on Wednesday.
|
|
High levels of oil product stocks have plagued the market for months but the increase seen this week in Europe has come despite a series of factors that should be reducing gasoline and distillate inventories.
|
|
Most of the rest of the production is distillate (30 percent), jet fuel (10 percent), petroleum coke (5 percent), heavy fuel oil (2.5 percent) and a host of more minor products like lubricants (1 percent).
|
|
In the longer term, with developed and emerging markets on track for expansion next year, strong demand for distillate fuel oil should keep margins firm and impart an upward bias to crude prices in 2018.
|
|
Oil prices also slumped as the weekly figures included notable jumps in gasoline and distillate inventories at a time when summer driving demand generally causes refiners to run down crude stocks and produce more fuels.
|
|
Distillate stocks stood at 148 million barrels on April 14, which was 19 million barrels above the 10-year average but 13 million barrels below the level at the corresponding point in 2016 (tmsnrt.rs/2pdRLCT).
|
|
"Further drawdowns in U.S. crude stocks are expected over the coming weeks as the country's gasoline and distillate inventories are replenished," said Abhishek Kumar, Senior Energy Analyst at Interfax Energy's Global Gas Analytics in London.
|
|
Consumption of low-sulphur distillate fuel oil in the United States is rising at the fastest rate in two years and record exports point to strong demand in Latin America as well as other markets.
|
|
LONDON (Reuters) - U.S. refiners have become a powerhouse of distillate exports, causing the supply-demand balance for fuels from the middle of the barrel to tighten in the United States despite a very warm winter.
|
|
Distillate fuel oil is used mostly for high-horsepower diesel engines used in trucks, trains, barges and pipelines as well as some industrial engines, so demand is closely linked to manufacturing activity and freight movements.
|
|
By the second week of February 153, distillate stocks stood at 215 million barrels, which was 246 million higher than at the same point in 232 and 33 million above the 10-year seasonal average.
|
|
Over the last four weeks, U.S. implied distillate consumption has averaged just 3.5 million barrels per day, which is 12 percent below the long-term average and 16 percent below the same period in 2015.
|
|
SINGAPORE, Feb 211 (Reuters) - Asia's cash discounts for jet fuel widened on Thursday due to lack of trading activity in the physical market, while middle distillate inventories in Singapore climbed for a second consecutive week.
|
|
"Some jet fuel has been diverted to the diesel pool because diesel demand is quite strong this year in the U.S., particularly on the East Coast," said Amrit Naresh, global distillate analyst at ESAI Energy.
|
|
Gasoline and distillate stocks have stabilized in the past fortnight as a result of very heavy crude processing in the United States and elsewhere, which has dispelled some of the earlier concerns about falling inventories.
|
|
Government data on Wednesday showed U.S. crude stocks dropped last week by 10 million barrels to their lowest since October as imports slowed, while gasoline and distillate stocks each fell by over 2 million barrels.
|
|
Colonial Pipeline Co, the biggest U.S. fuels system, reopened a portion of its main distillate and gasoline lines after being forced to a shut due to flooding at its supply points and amid dwindling supplies.
|
|
"Although crude oil inventories rose by more than expected, the draws of 2.7 million bbls in gasoline stocks and 2.6 million bbls in distillate inventories keep the futures markets steady this morning," brokerage PVM said.
|
|
Even if the northern hemisphere winter is only averagely cold, the distillate market looks set to enter 2018 with lower than average stocks and fast-growing demand, which should keep prices and refining margins firm.
|
|
The gross refining margin for turning Brent into U.S. heating oil has climbed to almost $19 per barrel from a recent low of less than $11 in May, despite record U.S. refinery production of distillate.
|
|
Distillate stocks have shrunk by 38 million barrels since the start of the year compared with a seasonal decline of less than 10 million in 2016 and a ten-year average of just 5 million.
|
|
NEW YORK (Reuters) - Energy hedge fund BBL Commodities expects a further rally in U.S. distillate prices, including diesel and heating oil, after successfully betting on those prices in September, it said in an investor letter.
|
|
From the start of 2020, the regulations will require ship owners to start using lower-sulphur distillate fuel oil unless they start buying lower-sulphur heavy fuel oil or install exhaust gas cleaning systems ("scrubbers").
|
|
Refineries have been ramping up distillate production ahead of the introduction of new IMO regulations for marine bunkers at the start of 2020, which will force many vessels to burn distillates rather than residual fuel oil.
|
|
The political-economic cycle will remain a source of significant uncertainty for some time but the underlying freight outlook is stronger than it has been for over two years, which is a positive for distillate demand.
|
|
Since almost all freight is moved by trucks, railroads, barges, ships and aircraft that use diesel or jet fuel made from middle distillates, the economic expansion should provide a big boost for distillate demand in 2018.
|
|
Refineries have been ramping up distillate production ahead of the introduction of new IMO regulations for marine bunkers at the start of 303, which will force many vessels to burn distillates rather than residual fuel oil.
|
|
Hedge funds, too, are bullish about the outlook for distillate prices with winter coming whereas they have rarely been so bearish about gasoline ("Hedge funds to U.S. refiners: produce more diesel, less gasoline", Reuters, July 5).
|
|
Crude processing is likely to ramp up significantly to meet increased demand for gasoline over the summer and then distillate fuel oil with the introduction of new IMO shipping regulations from the end of the year.
|
|
Gasoline and distillate stockpiles were down more than expected as refinery run rates increased, giving some hope as the energy industry reaches the end of refinery maintenance season and as driving demand is expected to rise.
|
|
LONDON (Reuters) - El Nino and the warm winter weather are being blamed for the weak demand for distillate fuel oil in the United States, but the slump in oil production is probably having a bigger impact.
|
|