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Petroleum Prices Surpass Last Year

Petroleum Prices Surpass Last Year

By Alex Mills ...U.S. inventories of distillate fuel oil have been below the five-year (2017–2021) low since the start of 2022. Since April, total U.S. distillate inventories have been below the five-year low and more than 20% below the five-year average. “The low inventories have primarily been the result of less global refining capacity since 2020, as well as high demand in early 2022 and global trade disruptions later in the year linked to Russia’s full-scale invasion of Ukraine,” EIA said....  
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