WASHINGTON: US stocks of high sulfur heating oil reached the lowest level on record even as imports and production soared, Energy Information Administration.
US stocks of heating oil with up to 2,000 ppm sulfur fell 735,000 barrels to 11.87 million barrels, the lowest level since the EIA began collecting the information in 1993.
Stocks fell despite a boost in imports, as US imports of HSHO rose 90,000 b/d to 120,000 b/d. That is the biggest one-week jump in imports since April.
Production of HSHO rose 131,000 b/d to 291,000 b/d, the highest level since October.
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The biggest fall in stocks came from the East Coast, where stock levels fell 490,000 barrels to 5.43 million barrels, the second-lowest level on record.
Within the East Coast, most of the drop came from the Lower Atlantic region. Stocks there fell 382,000 barrels to 754,000 barrels, the lowest since mid-January. Stocks in New England fell 195,000 barrels to 1.38 million barrels.
The only East Coast region to see stocks build was in the Central Atlantic region, where stocks rose 87,000 barrels to 3.29 million barrels.
East Coast production of HSHO rose 46,000 b/d to 63,000 b/d, which is the highest level of production since May.
Gulf Coast stocks of HSHO fell 122,000 barrels to 5.23 million barrels, the lowest since September. Stocks fell despite imports there rising 27,000 b/d to 39,000 b/d, the most in three months.
Gulf Coast production of HSHO rose 69,000 b/d to 201,000 b/d, the biggest one-week increase since October.
