U.S. stocks of road diesel and heating oil show early signs of stabilising and even increasing slightly as exceptionally high prices encourage production, discourage exports and possibly suppress consumption.
Distillate fuel oil inventories increased by 3 million barrels in the six weeks between Oct. 7 and Nov. 18, according to the U.S. Energy Information Administration .
In the ten years before the pandemic, distillate inventories declined by an average of more than 11 million barrels over the same period. Distillate inventories have not increased at this time of year since 2008, when the financial crisis was pushing the economy further into recession.But the deficit to the seasonal average has narrowed from 34 million barrels on Oct. 7.There is some evidence high refining margins and prices for diesel and other middle distillates are restraining consumption.
But the more impact has come from a sharp slowdown in exports as foreign economic activity has slackened and high prices have encouraged marketers to keep more distillate at home.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Column: Family of slain teen continues to fight clemency hearingBridget Drobney's loved ones have created an online petition they hope will keep the man who killed her 27 years ago in prison for life.
Leer más »
Column: Clarence Thomas' Jan. 6 conflicts of interest are showing againThe latest case before the Supreme Court might directly implicate Ginni Thomas in one of the attempts to undo the 2020 election.
Leer más »
Column: On the fifth anniversary of the #MeToo movement, the reckoning continuesHarvey Weinstein is on trial for rape in L.A. and a new movie 'She Said' showcases the investigative journalism that exposed him.
Leer más »
Brian Kemp Finally Embraces Georgia Election Denier Herschel Walker“Who do you want to fight for you in the United States Senate? Do you want a guy that represents our values like Herschel Walker, or do you want a guy who’s stood with Joe Biden 96 percent of the time?' Governor Brian Kemp said to a crowd in Cobb County.
Leer más »
Column: So many things and people to be thankful forPadres owner Peter Seidler is the first to be thanked, and not far behind are the Dodgers for losing to the Friars in October
Leer más »
Column: Three years after being shot at school, this teen has made our survival her fightMia Tretta was 15 years old when she was shot by a gunman at Saugus High in Santa Clarita. Three years later, she reflects on a never-ending stream of gun violence
Leer más »