EIA: PADD 1 Distillate Stocks at 1-Year Low

SECAUCUS, NJ (DTN) – U.S. East Coast distillate fuel oil stocks fell to one-year lows after dropping for a third consecutive week last week, data from the U.S. Energy Information Administration (EIA) showed Wednesday (6/3).

Gasoline inventories rose, rebounding from a five-month bottom, while jet oil inventories climbed as well in the PADD 1 region, while crude balances rose.

Distillate inventories in East Coast slid by 1.5 million bbl to 22.2 million during the week ended May 29, the EIA said in its Weekly Petroleum Status Report. That made it the lowest balance for distillates since the week ended June 27, when they stood at 21.54 million.

For the year, PADD 1 distillate stocks were lower too, by 1.9 million bbl from the 24.1 million logged during the same week of 2025.

In terms of imports, the East Coast took in 86,000 bpd for the week ended May 29, versus the 61,000 bpd in the prior week and 145,000 bpd a year ago.

In gasoline, East Coast stocks rose 3.4 million bbl to 56.6 million bbl, from the five-month bottom of 53.2 million in the week prior. Gasoline inventories in the latest week tracked by the EIA were, however, lower by 2 million from the 58.6 million seen a year ago. Import-wise, PADD 1 gasoline was at 605,000 bpd versus 367,000 and 644,000 a year ago.

Jet fuel inventories in PADD 1 rose by 800,000 bbl from a week ago to 12 million. Year-on-year, the rise was 1 million. Imports were at 6,000 bpd from 17,000 in the prior week and 24,000 a year ago.

Crude stocks on the East Coast were at 8.1 million bbl, down 500,000 week-over-week and 100,000 year-on-year.

Refinery utilization on the East Coast fell to 83.5% from 85.4% the previous week, with crude oil inputs dropping by 5,000 bpd to 773,000 bpd, the EIA reported.