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Informist, Thursday, Jun. 19, 2025

NEW DELHI – US crude oil inventories, excluding those in strategic petroleum reserves, fell by 11.5 million barrels to 420.9 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 fall by 1.6 million barrels. The US crude oil inventories were about 10% below the five-year average for this time of the year, the report showed.

Petrol inventories rose by 200,000 barrels from the previous week to 230.0 million barrels, while analysts at Dow Jones had forecast an increase of 400,000 barrels. Petrol stocks were around 2% below the five-year average for this time of the year, the report said. Distillate fuel stocks rose by 500,000 barrels to 109.4 million barrels in the week ended Friday, lower than an increase of 700,000 barrels expected by analysts polled by Dow Jones. The distillate fuel stocks were about 17% below the five-year average for this time of the year.

According to the report, refinery utilisation fell to 93.2% from 94.3% the previous week. Crude oil production in the US, the largest producer of the commodity, rose 3,000 barrels to 13.43 million barrels per day in the week ended Friday.

At 1227 IST, the most active July contract of West Texas Intermediate crude oil on the New York Mercantile Exchange was up 0.5% at $75.52 per barrel.

US crude oil imports averaged 5.5 million barrels per day in the week ended Friday, down 672,000 barrels per day from the previous week, as per the report. Over the past four weeks, crude oil imports have averaged around 6.1 million barrels a day, over 16% lower than the corresponding period last year.

Of the top 10 countries that export crude oil to the US, imports from five countries fell during the week. Imports from Canada fell the most, by 612,000 barrels per day to 3.22 million barrels per day. Imports from Brazil fell by 293,000 barrels per day to 173,000 barrels per day and imports from Mexico fell by 132,000 barrels per day to 394,000 barrels per day.

On the other hand, crude oil imports from Saudi Arabia rose to 356,000 barrels per day from nil, and imports from Iraq rose by 129,000 barrels per day to 213,000 barrels per day, the report showed.

For the week ended Friday, crude oil exports by the US rose by 1.1 million barrels per day to 4.36 million barrels per day, the report showed. Strategic petroleum reserves rose by 200,000 barrels to 402.3 million barrels during the week.

Inventories of crude oil at Cushing in Oklahoma, a key delivery point for West Texas Intermediate crude, fell by 1 million barrels to 22.7 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 86.87

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

Reported by Ashutosh Pati

Edited by Deepshikha Bhardwaj

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