NY Harbor Weekly: Distillates Outperform, Gasoline Weakens


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- Fuel spot markets on the New York Harbor diverged in 
the week to June 5, with middle distillates strengthening on tighter East Coast 
fundamentals while gasoline weakened following a recovery in regional 
inventories.

   NYH jet fuel recorded the strongest move of the week, increasing 25.19cts or 
7.73% week-over-week to average $3.5085 gallon, followed by NYH ULSD, which 
rose 10.49cts or 2.91% to average $3.7080 gallon.

   Support for East Coast distillates came as the U.S. Energy Information 
Administration (EIA) reported this week lower inventory numbers for a third 
consecutive week.

   Distillate fuel oil stocks in the PADD 1 region fell to 22.2 million bbl 
during the week ended May 29, the EIA reported.

   That was the lowest level for such inventories since the week ended June 27, 
2025, when stocks stood at 21.54 million bbl.

   The latest reading was also below the 24.1 million bbl reported a year ago, 
during the same week ended May 30, 2025.

   Adding to the distillate inventory declines was a drop in East Coast 
refinery utilization, to 83.5% from a prior 85.4%, that provided a further 
bullish edge to the market.

   Fundamentals for jet fuel in PADD 1 were mixed. Stocks increased by 800,000 
bbl to 12 million bbl, and stood above the 11 million bbl reported a year 
earlier. But imports declined to 6,000 bpd from the prior week's 17,000 bpd .

   The basis for NYH gasoline softened, with CBOB falling 7.14cts or 2.30% to 
average $3.0341 gallon. That came as East Coast gasoline inventories rebounded 
by 3.4 million bbl to 56.6 million bbl from 53.2 million bbl the prior week. 
Even with the increase, PADD 1 gasoline stocks remained below the 58.6 million 
bbl level seen the same week last year.

   Notwithstanding NYH pricing, retail rates for both diesel and gasoline fell 
in the East Coast this week, according to the EIA. Regional pump prices for 
diesel declined by 15.7cts to $5.237 gallon during the week ended June 1, and 
gasoline moved down 16.9cts to $4.135 gallon, the EIA said.

   No refinery outages or supply disruptions were reported across the East 
Coast during the week.

    




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