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U.S. exports of distillate fuels, including diesel and heating oil, rose to a record level of 1.9 million barrels per day last week, amid escalating global supply shortages and declining U.S. inventories due to increased international demand and disruptions in production in Russia and the Middle East. The majority of American exports were directed to Northwestern Europe, while domestic stockpiles fell to their lowest seasonal level since 1996, raising concerns about potential shortages as winter approaches and the demand for heating oil increases. Meanwhile, Russia announced the extension of export restrictions on diesel and gasoline until January 2027, which could further sustain high diesel prices in the coming months due to reduced supply and growing demand across transportation, industrial, and agricultural sectors.
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