EIA: Crude Stocks Rise After 10-Week Drawdown


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. commercial crude oil inventories increased after 
declining for 10 consecutive weeks, according to Energy Information 
Administration data for the week ended July 3 released Wednesday (7/8). 
Gasoline and distillate fuel inventories fell, while jet fuel inventories 
declined.

   Commercial crude oil inventories increased by 3 million bbl to 411.4 million 
bbl during the week profiled but remained 14.7 million bbl, or 3.4%, below the 
same week last year. Despite the weekly build, commercial crude oil stocks 
remained near their lowest seasonal level since the week ended September 28, 
2018, when inventories stood at 403.9 million bbl.

   Crude oil imports averaged 5.629 million bpd in the profiled week, up by 
350,000 bpd from the previous week. Over the last four weeks, crude imports 
averaged 5.403 million bpd, down 11.4% from the same period last year. Crude 
oil exports averaged 3.262 million bpd last week, down from 4.008 million bpd 
the week prior but above the 2.757 million bpd reported a year earlier.

   Distillate fuel inventories fell by 5 million bbl to 103.6 million bbl 
during the reference week, the lowest level since the week ended June 12, when 
stocks stood at 103.1 million bbl. Despite the decline, inventories remained 
800,000 bbl, or 0.8%, above the same week last year. Distillate imports 
averaged 87,000 bpd compared with 108,000 bpd the previous week and 42,000 bpd 
a year earlier. Distillate exports averaged 1.679 million bpd versus 1.327 
million bpd the previous week and 1.585 million bpd during the comparable week 
last year.

   Total motor gasoline inventories fell by 1.9 million bbl to 212.1 million 
bbl during the week profiled, the lowest level since the week ended May 22, 
when stocks stood at 211.6 million bbl. On an annual basis, gasoline 
inventories were down 17.4 million bbl, or 7.6%, from the same week last year. 
Gasoline imports averaged 423,000 bpd compared with 639,000 bpd the previous 
week and 832,000 bpd a year earlier. Gasoline exports averaged 1.026 million 
bpd versus 1.016 million bpd the previous week and 1.043 million bpd during the 
comparable week last year.

   Jet fuel inventories fell by 400,000 bbl to 47.6 million bbl last week but 
remained 3.3 million bbl, or 7.5%, above year-ago levels. Jet fuel imports 
averaged 95,000 bpd compared with 61,000 bpd the previous week and 79,000 bpd a 
year earlier. Jet fuel exports averaged 295,000 bpd versus 275,000 bpd the 
previous week and 246,000 bpd during the comparable week last year.

   Refinery utilization slipped to 95.8% of operable capacity last week from 
96.6% in the prior week. Crude oil inputs into refineries averaged 17.024 
million bpd, down by 172,000 bpd from the previous week's 17.196 million bpd.

   Total products supplied over the last four weeks averaged 20.618 million 
bpd, up 0.3% from the same period last year. Gasoline demand averaged 8.991 
million bpd, down 2.2% from year-ago levels, while distillate demand averaged 
3.778 million bpd, down 0.9% from the previous year. Jet fuel demand averaged 
1.869 million bpd, up 4.1% from the same four-week period in 2025.

    




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