EIA: Crude Stocks DN, Refined Product Supply Rose Last Wee
7/16 10:51 AM
EIA: Crude Stocks DN, Refined Product Supply Rose Last Week
Miguel E. Andujar
DTN Refined Fuels Market Reporter
DAVENPORT, FL (DTN) -- U.S. commercial crude oil inventories fell during the
week ended July 11 following two weeks of builds while gasoline supply rose and
distillate inventory posted the first build in four weeks, according to the
Energy Information Administration data released this morning. Refinery runs
decreased 0.8 percentage points in the week profiled and overall fuel demand
remained below last year.
Crude oil inventories, excluding the Strategic Petroleum Reserve, dropped
3.9 million bbl to 422.2 million bbl, about 8% below the five-year average for
this time of year. The draw contrasts with the American Petroleum Institute's
reported 800,000 bbl build.
Refinery utilization declined to 93.9% of capacity as of July 11 versus
94.7% the prior week. Refineries processed 16.849 million bpd of crude oil,
down 158,000 bpd week-on-week.
Crude exports climbed to 3.518 million bpd from 2.757 million bpd the prior
week, the data show. EIA reports four-week average crude oil exports totaled
3.213 million bpd, down from 4.069 million bpd for the same period in 2024.
Crude oil imports averaged 6.379 million bpd through July 11, up 366,000 bpd
from the previous week, but down 6.3% year-on-year on a four-week basis.
Gasoline inventories rose by 3.4 million bbl to 232.9 million bbl last week,
with inventory levels slightly above the five-year average. API reported a 1.9
million bbl build for the week profiled. The EIA reported gains in blending
components inventories, up 4.1 million bbl, offsetting a decline in
conventional gasoline stocks.
Distillate fuel inventories increased 4.2 million bbl to 107.0 million bbl
last week, well above the 800,000 bbl build reported by API. Distillate
inventories are currently about 21% below the five-year average for this time
of year.
Total products supplied over the past four weeks averaged 20.3 million bpd,
down 1.1% from a year earlier. Gasoline demand averaged 9.0 million bpd over
the past four weeks, down 1.6% year-on-year. Distillate fuel product supplied
averaged 3.7 million bpd over the past four weeks, up 4.4% compared to the same
period in 2024.
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