U.S. distillate stocks, refinery utilization drops after winter storm: EIA

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U.S. distillate stockpiles, which include diesel and heating oil, fell 1.4 million barrels in the week to Dec. 30, versus expectations for a 396,000-barrel drop

U.S. distillate inventories fell more than expected during their peak demand season and refinery utilization plummeted, the Energy Information Administration said on Thursday, after a winter storm roiled the energy market at the end of December.

Meanwhile, refinery utilization rates fell to 79.6 per cent, the lowest since March 2021. They dropped 12.4 per cent from the previous week, the largest weekly drop since February 2021.

 

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