Correction EIA: US Crude Stocks Up 7.1M Bbl, Refinery Runs
7/09 12:46 PM
Correction EIA: US Crude Stocks Up 7.1M Bbl, Refinery Runs
Miguel E. Andujar
DTN Refined Fuels Market Reporter
Corrects headline refinery run information and refinery run rate in third
paragraph
DAVENPORT, FL (DTN) -- U.S. commercial crude oil inventories posted a
larger-than-expected build during the week ended July 4 as refinery runs eased
while gasoline and distillate inventories decreased, according to the latest
data from the U.S. Energy Information Administration.
Crude oil inventories, excluding the Strategic Petroleum Reserve, rose by
7.1 million bbl to 426.0 million bbl, 4.3% below a year ago and about 8% below
the five-year average for this time of year. This is on par with the 7.1
million bbl build reported by the American Petroleum Institute for the same
reference week.
Refinery utilization eased to 94.7% of capacity from 94.9% the prior week.
U.S. refineries processed 17.0 million bpd of crude oil, down 98,000 bpd from
the previous period.
EIA data show exports at 2.757 million bpd last week, up from 2.305 million
bpd the week prior. Four-week average exports at 3.423 million bpd compared
with exports at 4.182 million bpd during the same four-weeks of 2024.
Crude oil imports averaged 6.0 million bpd, down 906,000 bpd from the prior
week. Imports over the past four weeks averaged about 6.1 million bpd, down
9.6% from the same four-week period in 2024. Data
Gasoline inventories fell by 2.7 million bbl to 229.5 million bbl, about 1%
below the five-year average. API reported a 2.2 million bbl draw in the week
ended July 4. The EIA reported losses across all components, with conventional
gasoline and blending components both falling week-on-week, while reformulated
gasoline volumes remained unchanged.
EIA data show distillate fuel stocks decreased 800,000 bbl to 102.8 million
bbl, matching API's reported draw. Distillate supplies are now 17.5% below
year-ago levels and about 23% below the five-year average for early July.
Total products supplied over the last four-week period averaged 20.6 million
bpd, down 1.6% from a year earlier. Distillate fuel product supplied averaged
3.8 million bpd, up 3.8% year-on-year, while motor gasoline demand over the
past four weeks averaged 9.2 million bpd, down 1.0% from the same period in
2024.
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