Summary Highlights

1. Refining Activity & Supply

• Crude oil refinery inputs averaged 16.9 million barrels per day (b/d), 328,000 b/d lower than the previous week. Refineries operated at 94.6% capacity. (EIA Information Releases)
• Gasoline output rose to 10 million b/d. Meanwhile, distillate fuel production dipped by 112,000 b/d to 5.2 million b/d. (EIA Information Releases)

2. Imports & Inventories

• Crude oil imports were around 6.2 million b/d, down by 263,000 b/d from the previous week. The 4-week average of imports is 0.4% below the same period last year. (EIA Information Releases)
• Crude oil commercial inventories (excluding SPR) decreased by 2.4 million barrels to 418.3 million barrels, about 6% below the 5-year average for this time of year. (EIA Information Releases)
• Motor gasoline stocks decreased by 1.2 million barrels, aligning with the 5-year average. Finished gasoline inventories rose, but blending components stocks fell. (EIA Information Releases)
• Distillate fuel stocks dropped by 1.8 million barrels, now approximately 15% below the 5-year average. (EIA Information Releases)
• Propane/propylene inventories increased by 1.7 million barrels, now about 13% above the 5-year average. (U.S. Energy Information Administration)
• Total commercial petroleum inventories (including all products) declined by 4.4 million barrels. (EIA Information Releases)

3. Demand Trends – Product Supplied

• Over the past 4 weeks, total petroleum products supplied averaged 21.2 million b/d, up 2.5% year-over-year. (EIA Information Releases)
• Gasoline supplied averaged 9.0 million b/d, down 1.1% versus a year ago.
• Distillate fuel supplied averaged 3.9 million b/d, up 7.7% year-over-year.
• Jet fuel supply saw a 1.7% year-over-year increase. (EIA Information Releases)

4. Pricing Overview

• WTI crude ended the week at $64.08 per barrel, up $0.30 from the prior week but $11.74 below last year. (U.S. Energy Information Administration)
• Spot gasoline (New York Harbor) traded at $2.168/gallon, up $0.08, yet down $0.133 year-over-year.
• Spot heating oil fetched $2.214/gallon, up $0.081 from both the prior week and year-ago. (U.S. Energy Information Administration)
• Retail gasoline (national average): $3.147/gallon, up $0.022, but still $0.166 lower than last year.
• Retail diesel: $3.708/gallon, down $0.005, but $0.057 higher year-over-year. (U.S. Energy Information Administration)

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