Free Trial

US Gasoline Demand Falls Again But Distillates Edges Higher

OIL PRODUCTS

The latest EIA weekly petroleum status report for the week to April 26 showed further weakness in US gasoline demand against the normal seasonal increasing trend at the start of the summer driving season.

  • Four week implied gasoline demand feel to the lowest seasonal level since 2020 to continue the trend seen since late March. Other than 2020 demand is a seasonal low since 2014. The demand is now 3.6% below levels seen this time last year.
  • Four week average distillates implied demand showed a small recovery this week but remains well below seasonal normal except for levels seen in 2020. Distillates demand is 8.3% below 2023 levels.

Keep reading...Show less
111 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

The latest EIA weekly petroleum status report for the week to April 26 showed further weakness in US gasoline demand against the normal seasonal increasing trend at the start of the summer driving season.

  • Four week implied gasoline demand feel to the lowest seasonal level since 2020 to continue the trend seen since late March. Other than 2020 demand is a seasonal low since 2014. The demand is now 3.6% below levels seen this time last year.
  • Four week average distillates implied demand showed a small recovery this week but remains well below seasonal normal except for levels seen in 2020. Distillates demand is 8.3% below 2023 levels.

Keep reading...Show less