U.S. diesel inventories fell by 3.6 million barrels to 99.3 million barrels, their lowest level since May 2003. The decline is part of a broader reduction in U.S. commercial crude and Strategic Petroleum Reserve inventories, which are also near multidecade lows. Tighter supply in the U.S. middle-distillate and crude markets could put upward pressure on energy prices. However, the prediction market still assigns a low probability to WTI crude oil reaching $160 in November 2026, despite a slight increase in support for that outcome. OPEC announcements, upcoming U.S. inventory reports and geopolitical developments affecting Middle Eastern supply routes could influence prices.
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