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US commercial crude inventories posted an unexpected build last week, snapping a five-week downtrend, as a sharp jump in net imports offset robust refinery activity. According to the latest data from the US Energy Information Administration (EIA), crude stocks rose by 3.8 million barrels in the week ending 27 June 2025.

The increase lifted total inventories to 419 million barrels—still roughly 9% below the five-year seasonal average—underscoring a persistently tight market backdrop despite the weekly uptick.

The surprise build was primarily driven by a surge in net crude imports, which jumped by 2.9 million barrels per day (bpd) to 4.6 million bpd. The shift stemmed largely from a 46% plunge in exports, which dropped to 2.3 million bpd compared to the prior week.

Refinery demand remained strong, with crude throughput averaging 17.1 million barrels per day. Utilisation rates edged up to 94.9% from 94.7%, reflecting healthy margins and seasonal consumption strength.

In the downstream segment, total motor gasoline inventories rose by 4.2 million barrels, though stockpiles remain about 1% below the five-year average, indicating resilient domestic demand.

Crude oil production held steady at 13.433 million barrels per day.

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