EIA: US crude stocks posted fifth weekly drop as refinery demand climbed
US commercial crude inventories posted another notable decline last week, underpinned by stronger refining activity and firm demand, according to data released by the Energy Information Administration (EIA).
US commercial crude inventories posted another notable decline last week, underpinned by stronger refining activity and firm demand, according to data released by the Energy Information Administration (EIA).
Crude inventories fell by 5.8 million barrels to 415.1 million barrels in the week ending 20 June. The drop reflects increased crude throughput by refiners, which ramped up operations to meet seasonal demand, particularly for transportation fuels.
Refinery crude runs rose by 125,000 barrels per day (bpd), while utilisation rates climbed 1.5 percentage points to 94.7% of total capacity—the highest level since July 2024.
Supporting this trend, total motor gasoline inventories also declined, down by 2.1 million barrels on the week. Stockpiles are now roughly 3% below the five-year average for this time of year.
Meanwhile, US crude production held relatively steady at 13.435 million bpd during the reporting week.
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