EIA: U.S. Crude Stocks Drop 6.2M Bbl, Most in 2 Months


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- U.S. commercial crude oil stocks fell last week by 
their most in two months as refinery activity picked up and exports remained 
high, Energy Information Administration (EIA) data for the week ended April 24 
showed Wednesday (4/29). Distillate fuel inventories also declined sharply to 
the lowest level since early July 2025, while gasoline stocks dropped and jet 
fuel balances rose modestly.

   Crude stocks decreased by 6.2 million bbl to 459.5 million bbl during the 
week profiled.

   It was the largest weekly decline in crude inventories since a 9 million bbl 
drop during the week ended February 14.

   The current inventory stands approximately 4.3% above year-ago levels.

   Crude oil imports averaged 5.75 million bpd in the profiled week, a decrease 
of 328,000 bpd from the previous week. Over the past four weeks, crude imports 
averaged 5.861 million bpd, up 0.7% from the same period last year.

   Crude oil exports stood at 6.4 million bpd last week, up from 4.8 million 
the prior week and 4.1 million a year ago.

   Distillate fuel balances fell by 4.5 million bbl to 103.6 million bbl. The 
latest level is the lowest since the week ended July 4, 2025, when inventories 
stood at 102.7 million bbl. For the year, distillate stocks were down 4.2 
million bbl, or 3.9%.

   Total motor gasoline inventories fell by 6.1 million bbl last week to 222.3 
million bbl. On an annual level, gasoline stocks were down 3.2 million bbl, or 
1.4%.

   Jet fuel stocks rose 500,000 bbl to 44.2 million bbl for the week. 
Annualized, jet fuel inventories were 3 million bbl, or 7.3% higher.

   Refinery utilization increased to 89.6% last week from 89.1% of operable 
capacity reported the prior week. Crude oil input into refineries averaged 
16.071 million bpd during the week ended April 24, up by 84,000 bpd from the 
previous week's average.

   Total products supplied over the last four weeks averaged 20.6 million bpd, 
up 0.9% from the same period a year earlier. Gasoline demand averaged 8.9 
million bpd, up 0.1% from the same period last year, while distillate demand 
averaged 4.0 million bpd, higher by 0.2% year-over-year.

    




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