EIA weekly petroleum status: US crude inventories fell by 1.7 million barrels, while a further 3 million barrels were released from the Strategic Petroleum Reserve (SPR), taking the cumulative post-war drawdown to almost 100 million barrels. Gasoline stocks declined by 1.5 million barrels, with Gulf Coast inventories falling to their lowest level since 2017, highlighting continued regional tightness during the peak summer driving season. Distillate inventories, however, rose by 4.6 million barrels, providing some welcome relief to the segment of the refined products market that has experienced the greatest supply stress in recent months.
Elsewhere, inventories at the Cushing delivery hub climbed back above 20 million barrels. US crude exports increased to 3.7 million bpd but remained below the one-year average of 4.2 million bpd and well below the record 6.4 million bpd reached in May.
Domestic crude production was unchanged, while four-week average implied demand for both gasoline and distillates eased, broadly in line with normal seasonal trends.
EIA Crude and Fuel Stock Report
