Informist, Thursday, Jun. 26, 2025

NEW DELHI – US crude oil inventories, excluding those in strategic petroleum reserves, fell by 5.8 million barrels to 415.1 million barrels in the week ended Friday, the US Energy Information Administration said in its weekly report. Analysts polled by Dow Jones had expected stocks to dip by 1.3 million barrels. The US crude oil inventories were about 11% below the five-year average for this time of the year, the report showed.

Petrol inventories fell by 2.1 million barrels from the previous week to 227.9 million barrels while analysts polled by Dow Jones had forecast an increase of 200,000 barrels. Petrol stocks were around 3% below the five-year average for this time of the year, the report said. Distillate fuel stocks declined by 4.1 million barrels to 105.3 million barrels in the week ended Friday while analysts polled by Dow Jones had expected a rise of 700,000 barrels. The distillate fuel stocks were about 20% below the five-year average for this time of the year.

According to the report, refinery utilisation rose to 94.7% from 93.2% the previous week. Crude oil production in the US, the largest producer of the commodity, rose 4,000 barrels to 13.44 million barrels per day in the week ended Friday.

At 1245 IST, the most active August contract of West Texas Intermediate crude oil on the New York Mercantile Exchange was up 0.7% at $65.40 per barrel.

US crude oil imports averaged 5.9 million barrels per day in the week ended Friday, up 439,000 barrels per day from the previous week, as per the report. Over the past four weeks, crude oil imports have averaged around 6 million barrels a day, over 17% lower than the corresponding period last year.

Of the top 10 countries that export crude oil to the US, imports from five countries rose during the week. Imports from Colombia increased the most, by 214,000 barrels per day to 325,000 barrels per day. Imports from Libya rose by 150,000 barrels per day to 240,000 barrels per day, and imports from Brazil rose by 126,000 barrels per day to 299,000 barrels per day.

On other hand, crude oil imports from Ecuador fell by 131,000 barrels per day to 5,000 barrels per day, and imports from Venezuela fell by 61,000 barrels per day to 70,000 barrels per day, the report showed.

For the week ended Friday, crude oil exports by the US fell by 91,000 barrels per day to 4.27 million barrels per day, the report showed. Strategic petroleum reserves rose by 200,000 barrels to 402.5 million barrels during the week.

Inventories of crude oil at Cushing in Oklahoma, a key delivery point for West Texas Intermediate crude, fell by 500,000 barrels to 22.2 million barrels in the week ended Friday, according to the report. Cushing is the designated delivery point for NYMEX crude oil futures contracts. Market participants closely monitor stockpiles at Cushing, as it has a storage capacity of about 90 million barrels.

End

US$1 = INR 85.75

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Reported by Ashutosh Pati

Edited by Subhojit Sarkar

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