US fuel supply trends higher in June

The US has supplied 25% more fuel oil per day on average in June compared to May, according to the Energy Information Administration (EIA).

Changes in monthly US residual fuel oil from May to June:

• Production up 22,000 b/d to 303,000 b/d
• Supply up 70,000 b/d to 353,000 b/d
• Imports steady at 112,000 b/d

Volumes of fuel oil supplied out of US storage tanks increased in June. The fuel oil goes to outlets like bunker fuel blenders and bulk terminals, refinery coking units for upgrades to higher-value products, or to power generation.

Supply, which can also imply demand, has increased from 283,000 b/d in May, to 353,000 b/d in June, the EIA reports.

US refineries have produced 22,000 b/d more fuel oil in June, while imports have remained steady at 112,000 b/d.

Total US fuel oil stocks have decreased by 820,000 bbls on the month to 21.73 million bbls.

By Gautamee Hazarika

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