Business News | US Commercial Crude Oil Inventories Rise by 2 Million Barrels: EIA

Washington DC [US], July 23 (ANI): Commercial crude oil inventories increased by 2.0 million barrels in the United States for the week ending July 17, 2026, according to the US Energy Information Administration (EIA).

The weekly gain brought total commercial crude oil stockpiles, excluding those held in the Strategic Petroleum Reserve, to 411.7 million barrels. Despite the uptick, inventory levels remained approximately 6 per cent below the previous five-year average established between 2021 and 2025.

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The increase in crude holdings contributed to a broader accumulation across overall energy supplies. Total commercial petroleum inventories expanded by 11.6 million barrels during the week. Key refined product stockpiles also registered gains across multiple categories.

Gasoline inventories grew by 0.8 million barrels, leaving current levels 7 per cent below the five-year average. Distillate fuel stockpiles increased by 1.4 million barrels, remaining 10 per cent below their historical five-year benchmark.

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In contrast, propane and propylene inventories rose sharply by 6.3 million barrels, reaching a level 34 per cent above the five-year average.

Domestic refinery activity remained high across the country. US oil refineries operated at 96.1 per cent of their full capacity, processing an average of 17.1 million barrels per day. This reflected a minor decline of 58,000 barrels per day compared to the processing volume recorded in the preceding week.

Gasoline output averaged 9.7 million barrels per day, while distillate fuel production increased to 5.3 million barrels per day.

Foreign supply flows showed a short-term increase over the weekly period. Crude oil imports rose by 117,000 barrels per day to reach 5.8 million barrels per day. However, looking at broader trade patterns, the four-week average for crude imports stood at 5.6 million barrels per day, representing an 11 per cent decrease compared to the corresponding period last year.

Import figures for refined products showed gasoline imports averaging 494,000 barrels per day, while distillate imports averaged 173,000 barrels per day.

Over the past four weeks, total product demand averaged 20.4 million barrels per day, down 1 per cent year over year. Gasoline demand increased 1 per cent to 8.9 million barrels per day, while distillate demand increased 2 per cent to 3.7 million barrels per day. Jet fuel demand increased 9 per cent year over year.

The increased demand for transportation fuels was offset by decreasing demand in residual fuel oil, propane, and other oils. (ANI)

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