US distillate inventories at 99.3 million barrels, below 100 million for the first time since May 2003

U.S. distillate fuel inventories fell to 99.3 million barrels in the week ending October 30, dropping below the 100-million-barrel mark for the first time since May 2003, according to the EIA's weekly petroleum status report. The figure, which includes diesel and heating oil, declined by 3.6 million barrels from 102.8 million the prior week and is 11% below the 111.5 million barrels recorded a year earlier. The drop matters because distillate covers both road diesel and heating oil, signaling tightening middle-distillate supply ahead of winter demand. The April 2003 series low of 95.72 million barrels remains below the current level, so 99.3 million marks the weakest reading since May 2003 rather than an all-time low. Watch next week's EIA update for whether inventories extend the drawdown or stabilize above the 100-million threshold.