US Diesel Stockpiles Fall to 23-Year Low

U.S. distillate fuel stocks, the pool that includes diesel and heating oil, fell 3.6 million barrels last week to 99.3 million barrels, according to the EIA's Weekly Petroleum Status Report released November 4. That level sits 13% below the five-year average for this time of year. At the same time, demand is rising: distillate supplied averaged 4.2 million barrels a day over the past four weeks, up 8.7% from a year earlier, even as refiners ran near their limit at 94.5% of capacity. Energy names like $XLE are facing a tighter fuel market heading into winter.