President Trump plans to ease limits on a tax-exempt diesel variety, Bloomberg and the Financial Times reported October 5, adding the first concrete detail to the expected diesel executive order. The text and timing of the order itself have not been published.
The diesel file is the active one in refined products. The G7 plan floated October 2 to release up to 100 million barrels of diesel and crude faces market skepticism given the US Strategic Petroleum Reserve sits at 283 million barrels, the lowest since October 1982 per EIA data. Heating-oil season is approaching, which keeps diesel tightness the product to watch.
No fresh RBOB, gasoil, heating oil or jet cracks were verifiable this morning. The API weekly estimates land today at 4:30pm ET, with the EIA report Wednesday at 10:30am.