- US commercial crude oil inventories increased by 1.1 million barrels from the prior week.
- At 411.5M barrels, US crude oil inventories are nearly 10% below the five-year average for this time of year.
- Total motor gasoline inventories fell by 1.3 million barrels last week and are nearly 3% below the five-year average for the season.
- Meanwhile, U.S. crude oil imports hovered around 5.8 million barrels per day last week, falling by 0.6 million barrels per day from the prior week.
- During the last four weeks, crude oil imports hovered around 6.4 million barrels per day, 9.3% higher than the same period last year.
Distillate fuel product supplied hovered around 4.5M barrels per day in the last four weeks, rising by 4.5% during the same period last year. Jet fuel supplied jumped 27.7% in the same period.
CL1! Up +2.29%, USOIL up +2.50%