Northeast distillate inventories have declined but remain above normal

In late June 2020, weekly distillate inventories in the Northeast United States reached 52.3 million barrels, the largest inventory since late November 2016. Since then, Northeast distillate inventories have declined to 43.7 million barrels as of the week ending January 29. Although inventories declined overall, they were still 10% higher than the previous five-year (2016–20) average for that time of year, according to data in the U.S. Energy Information Administration’s (EIA) Weekly Petroleum Status Report. About 80% of the U.S. homes that use distillate fuel as their main heating fuel are in the Northeast.
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