U.S. Diesel Supplies Fall Below 100 Million Barrels, Lowest Since 2003

U.S. diesel supplies are below 100 million barrels, their lowest level since 2003, adding to tight distillate market conditions that may support fuel prices.

Distillate fuel includes diesel and heating oil. Diesel is widely used in trucking, farming, freight and heating.

Earlier projections put U.S. distillate inventories below 100 million barrels in September and below the five-year average through the end of 2026, a backdrop to the U.S. diesel export-ban debate. Low inventories could also put upward pressure on crude oil prices.

Supply disruptions, policy changes and announcements from the U.S. Energy Information Administration (EIA) or the Organization of the Petroleum Exporting Countries (OPEC) could shift market expectations.