ARGUS Energy Weekly, 2026-10-19. This is a brief English summary, NOT a full translation. The complete original report is in Chinese: https://argusx.fun/research/energy/2026-10-19/weekly/

Regime: hidden refined-product pressure with renewed crude supply-risk repricing. WTI rose 10.4% in the week to Oct 16, while a matched November NYMEX 3-2-1 crack fell 13.5% to $57.77/bbl. Diesel-only cracks remain above $100/bbl. EIA distillate inventories drew another 2.5 million barrels despite higher refinery utilization. Retail diesel edged down and Oak Harbor surcharges were flat. Crude repricing has outpaced end-product inflation; the draw in physical inventories argues against an easing-regime switch.

Research observations (with precise dates):
U.S. distillate inventories (week ended 2026-10-09): 102.6 million barrels.
U.S. refinery utilization (week ended 2026-10-09): 93.5%.
U.S. highway diesel retail price (2026-10-12): 6.179 USD/gallon.
Oak Harbor LTL fuel surcharge (2026-10-14): 53.7%.
Oak Harbor TL fuel surcharge (2026-10-14): 86.5%.

See the complete Chinese report and public sources at https://argusx.fun/research/energy/2026-10-19/weekly/

## Public sources

- [Reuters 2026-10-16 oil close](https://www.reuters.com/business/autos-transportation/oil-edges-down-investors-weigh-possible-us-sanctions-shadow-fleet-2026-10-16/)
- [EIA WPSR 2026-10-15 summary](https://ir.eia.gov/wpsr/summary.txt)
- [EIA WPSR 2026-10-15 Table 6](https://www.eia.gov/petroleum/supply/weekly/archive/2026/2026_10_15/pdf/table6.pdf)
- [EIA retail gasoline and diesel](https://www.eia.gov/dnav/pet/pet_pri_gnd_dcus_nus_w.htm)
- [NYMEX Nov 2026 RBOB historical](https://www.investing.com/commodities/gasoline-rbob-historical-data)
- [NYMEX Nov 2026 ULSD historical](https://ca.investing.com/commodities/heating-oil-historical-data?cid=1178043)
- [Oak Harbor official fuel surcharge](https://oakh.com/page/fuelsurchargesched)
- [US 2-year Treasury yield 2026-10-16](https://treasuryratewatch.com/daily/)
- [ICE US Dollar Index via Yahoo](https://finance.yahoo.com/quote/DX-Y.NYB/history/)
- [EIA daily WTI/Gulf Coast product spot](https://www.eia.gov/dnav/pet/pet_pri_spt_s1_d.htm)