EIA: Crude Hits 4-Month Low, Distillates Stay Tight


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   DAVENPORT, FL (DTN) -- U.S. commercial crude oil inventories declined for a 
seventh consecutive week while distillate fuel inventories moved lower again 
and remained near the lowest levels in more than two decades, according to 
Energy Information Administration data for the week ended June 5 released 
Wednesday (6/10). Gasoline inventories were little changed while jet fuel 
inventories increased.  

   Commercial crude oil inventories fell by 7.2 million bbl to 426.5 million 
bbl during the week profiled, the lowest commercial crude oil inventory level 
since the week ended February 13, 2026, when stocks stood at 419.8 million bbl.

   Crude oil imports averaged 5.888 million bpd in the profiled week, down by 
509,000 bpd from the previous week. Over the last four weeks, crude imports 
averaged 6.208 million bpd, up 2% from the same period last year. Crude oil 
exports averaged 4.840 million bpd last week, down from 5.874 million bpd the 
week prior but above the 3.286 million bpd reported a year earlier.

   Distillate fuel inventories fell by 200,000 bbl to 102.1 million bbl during 
the reference week after rebounding the prior week. Despite the decline, 
inventories remained above the week ended May 22, 2026, when stocks reached 
100.7 million bbl, the lowest level since 2003. The latest inventory level 
ranked as the second-lowest since the week ended May 23, 2003, when inventories 
stood at 101.5 million bbl. Distillate inventories were down 6.8 million bbl, 
or 6.2%, from the same week last year.

   Total motor gasoline inventories increased by 200,000 bbl to 215.1 million 
bbl during the week profiled. On an annual basis, gasoline inventories were 
down 14.7 million bbl, or 6.4%, from the same week last year.

   Jet fuel inventories rose by 800,000 bbl to 46.2 million bbl last week and 
were up 2.8 million bbl, or 6.3%, from year-ago levels.

   Refinery utilization increased to 95.3% of operable capacity last week from 
94.7% in the prior week. Crude oil inputs into refineries averaged 16.962 
million bpd, up by 80,000 bpd from the previous week's 16.881 million bpd.

   Total products supplied over the last four weeks averaged 20.581 million 
bpd, up 3.5% from the same period last year. Gasoline demand averaged 8.837 
million bpd, down 0.5% from year-ago levels, while distillate demand averaged 
3.708 million bpd, higher by 7.2% from the previous year.

    

    




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