US Atlantic Coast diesel inventories remained well below seasonal norms in 2023 for a second consecutive year according to Argus.

• However, restrictions at the Panama Canal appear to have started a rebound in stockpiles.
• Restrictions at the Panama Canal and higher demand in the Northeast have pulled more gulf coast supply via the Colonial Pipeline.
• This influx has begun to show in supply data, with distillate inventories averaging 28m bbl in the four-weeks to Dec. 22, up 9% on the previous four-week averages, according to EIA data.