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Informist, Thursday, Jul. 9, 2026

 

MUMBAI – Inventories of crude oil in the US, excluding those in the strategic petroleum reserves, rose 3.0 million barrels to 411.4 million barrels in the week ended Friday, the US Energy Information Administration said in its weekly report. Analysts polled by Dow Jones had estimated a 1.4 million barrel fall. US crude oil inventories were about 6?low the five-year average for this time of the year, according to the agency's report.

 

Inventories of petrol in the US were down 1.9 million barrels from the previous week at 212.1 million barrels in the week ended Friday. Analysts polled by Dow Jones had forecast petrol inventories to fall by 1.3 million barrels. Distillate fuel stocks fell by 5.0 million barrels from last week to 103.6 million barrels. Analysts had expected a 900,000-barrel rise in distillate stocks. Distillate fuel stocks were around 12?low the five-year average for this time of the year.

 

Refinery utilisation in the US fell to 95.8% from 96.6% the previous week. Crude oil production in the country, the largest producer of the commodity, rose by 50,000 barrels per day to 13.86 million barrels per day in the week ended Friday.

 

US crude oil exports were down 746,000 barrels per day at 3.26 million barrels per day, according to the report. The country's strategic petroleum reserves fell by 6.2 million barrels to 319.5 million barrels during the week.

 

US crude oil imports averaged 5.6 million barrels per day during the week, up by 351,000 barrels per day from the previous week. Over the past four weeks, US crude oil imports have averaged around 5.4 million barrels per day, 11.4% lower than in the corresponding period last year.

 

Of the top 10 countries that export crude oil to the US, imports from five fell in the week ended Friday. Imports from Venezuela declined the most, by 129,000 barrels per day to 483,000 barrels per day. On the other hand, imports from Canada rose the most, by 327,000 barrels per day to 3.80 million barrels per day, according to the report.

 

Inventories of crude oil at Cushing, Oklahoma, a key delivery point for West Texas Intermediate crude, fell 100,000 barrels to 19.6 million barrels in the week ended Friday. Cushing is the designated delivery point for NYMEX crude oil futures. Market participants closely monitor stockpiles in Cushing, which has a storage capacity of about 90 million barrels.

 

At 0851 IST, the most-active August crude oil contract on NYMEX was up 1.2% at $74.45 per barrel.

 

	Inventory (mln barrels)	Weekly change (%)
Crude oil	411.4	0.7
Petrol	212.1	(-)0.9
Kerosene-type jet fuel	47.6	(-)0.9
Distillate fuel oil	103.6	(-)4.6
Propane/propylene	90.5	(-)0.9
Unfinished oils	74.9	1.2
Other oils	287.8	0.6

End

 

US$1 = INR 95.56

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

 

Reported by Shreya Shetty

Edited by Saji George Titus

 

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