The diesel problem that could spoil Bitcoin’s hopes for cheaper money
Summary
U.S. distillate inventories fell by 3.57 million barrels to 99.26 million in the week ended Oct. 30, 13% below their five-year average. Diesel and heating-oil prices eased slightly week over week but remained about $2.50 per gallon higher than a year earlier. Refinery utilization rose, yet production edged down as stocks declined. Persistent fuel costs could sustain inflation pressure and delay easier financing, potentially weighing on Bitcoin investors’ risk appetite. The Federal Reserve held rates at 3.75%–4% on Oct. 28, citing elevated inflation. The next EIA report will show whether inventories rebuild or continue to draw down.
