Clean tanker demand for the US East Coast (PADD1) is resuming its previous declines, on weak fundamentals.  Slowed by weak demographics, PADD1 gasoline demand will face tepid vehicle-miles travelled and the continued growth of electric vehicles (EVs).  Meanwhile, fuel switching to natural gas for home heating is providing a structural decline in heating oil demand, offsetting rising trucking demand for diesel.  Despite all of the angst over PADD1 refining, the region’s plants account for only 20% of clean product supply, and PADD1 is essentially a large blending centre reliant on the USG (PADD3) to meet demand.  Stable pipeline flows and rising Jones Act tanker movements will cut into imports and tanker demand.  Lower inventories and a colder winter could boost demand this season.  Download the Executive Summary of the presentation here.