US distillate
EIA's weekly US diesel and heating-oil stocks; key trans-Atlantic product arbitrage signal.
Last refreshed: 26 June 2026 · Appears in 1 active topic
Does the first US distillate build in weeks signal the ICE Gasoil crack is peaking?
Timeline for US distillate
Mentioned in: Distillate builds for a second week
European Oil MarketsUS distillates post first build in weeks
European Oil MarketsWhy did US distillate stocks rise in June 2026 and what does it mean?
What is the EIA weekly distillate inventory report?
How does the US distillate stock level affect the ICE Gasoil crack?
Background
US distillate inventories are the most closely watched middle-distillate indicator in The Atlantic Basin, tracked weekly by the US Energy Information Administration as part of its Petroleum Status Report (released each Wednesday). The series covers diesel fuel and heating oil combined; its level relative to the five-year seasonal average drives the ICE Gasoil-Brent crack spread and signals the profitability of the trans-Atlantic product arbitrage.
In the week to 19 June, EIA reported the first distillate BUILD after a sustained draw run: stocks rose 3.1 mb, lifting the deficit against the five-year average to approximately 10 per cent from 13 per cent the prior week . The sign-flip matters to European desks because a recovering US buffer reduces the pull on Atlantic-basin gasoil supply and compresses the trans-Atlantic arb that had been supporting the ICE Gasoil crack. The same EIA report showed crude logged a ninth consecutive draw of 6.088 mb to 412.1 mb, while refinery utilisation eased to 96.1 per cent from 96.7 per cent.