U.S. president’s statements on Taiwan
Biden insists no change in Taiwan policy
U.S. Northeast distillate fuel oil shortage
U.S. Northeast home heating oil reserve
White House examines diesel release
Russia’s crude oil increasingly stuck at sea
LNG flows set to shift from Europe to Asia
Russia’s oil production declines ($BBG)
Amazon to sublet excess storage ($WSJ)
Sri Lanka raises fuel prices sharply
Iran/Venezuela increase oil cooperation
U.S. household finances strong at end 2021
U.S. EAST COAST distillate fuel oil inventories have fallen to just 22 million bbl compared with a pre-pandemic five-year seasonal average of 43 million bbl. Regional inventories have depleted to the lowest level since records began in 1990, leading to intense upward pressure on regional fuel prices:
U.S. DISTILLATE prices have been at a record premium to crude but the shortage is increasingly bleeding into gasoline inventories and prices as well as refiners try to boost output of diesel and jet fuel:
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