U.S. Crude Oil Inventories Fall, Product Stocks Rise

Dow Jones06-24 22:59

U.S. crude oil inventories fell for a ninth consecutive week while gasoline and distillate fuel stocks posted increases, according to data released Wednesday by the U.S. Energy Information Administration.

Commercial crude oil stocks excluding the Strategic Petroleum Reserve fell by 6.1 million barrels to 412.1 million barrels in the week ended June 19 and were about 7% below the five-year average for the time of year, the EIA said. The withdrawal was larger than the 4.1 million barrel decline expected in a Wall Street Journal survey of analysts.

Oil stored in the SPR stood at 331.2 million barrels as the Department of Energy released an additional 9.1 million barrels of emergency supplies. Oil stocks at Cushing, Okla., the Nymex delivery hub, were down by 1.1 million barrels at 19 million barrels.

The EIA estimated U.S. crude oil production at 13.8 million barrels a day, up by 13,000 barrels a day from the previous week. Crude oil imports increased by 436,000 barrels a day to 5.6 million barrels a day, and crude exports rose by 342,000 barrels a day to 4.7 million barrels a day.

Refineries ran at 96.1% of capacity, down from 96.7% the week before, with crude input to refineries falling by 81,000 barrels a day to 17.1 million barrels a day. Refinery runs were seen unchanged in the Journal survey.

Gasoline inventories rose for the third time in four weeks and were up by 2.1 million barrels at 216.3 million barrels, compared with an expected 1.3 million barrel draw. Gasoline stocks were 5% below the five-year average. Gasoline demand fell by 437,000 barrels a day to 8.8 million barrels a day.

Distillate fuel stocks rose by 3.1 million barrels to 106.1 million barrels versus expectations of a 1.1 million barrel withdrawal, and were 10% below the five-year average for the time of year.

 
Change in U.S. oil inventories for the week ended June 19: 
 
                   Crude       Gasoline      Distillates        Refinery Use 
EIA data:          -6.1           2.1            3.1                -0.6 
Forecast:          -4.1          -1.3           -1.1                unch

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

Write to Anthony Harrup at anthony.harrup@wsj.com

(END) Dow Jones Newswires

June 24, 2026 10:59 ET (14:59 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

U.S. Crude Oil Inventories Fall, Product Stocks Rise

At the request of the copyright holder, you need to log in to view this content

Comments