November 15, 2022 10:37 GMT
East Coast Distillate Imports Ramping Up
At least 11 vessels carrying up to 3.6 million barrels of distillate, which includes low-sulfur diesel and home heating oil, will arrive in New York Harbor in late November and early December, according to Reuters sources.
- Most of the shipments are arriving from Europe. The 11 vessels are carrying the equivalent of 4% of all the East Coast distillate fuel imports in 2021.
- East Coast distillate stocks are hovering near 21.8 million barrels, the second-lowest level in a decade.
- Line 2 of the Colonial Pipeline, which carries fuel products from the Gulf Coast to the East Coast, is fully booked.
- Buying activity for distillate fuels has increased ahead of winter.