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Informist, Thursday, Jul. 31, 2025

MUMBAI – Crude oil inventories in the US, excluding those in strategic petroleum reserves, rose by 7.7 million barrels to 426.7 million barrels in the week ended Friday, the US Energy Information Administration said in its weekly report. Analysts polled by Dow Jones had expected the stocks to fall by 1.6 million barrels from the previous week. US crude oil inventories were about 6% below the five-year average for this time of the year, the report showed.

Petrol inventories fell by 2.7 million barrels from the previous week to 228.4 million barrels. Analysts polled by Dow Jones had forecast a fall of 900,000 barrels. Petrol stocks were 1% below the five-year average for this time of the year, the report said. Distillate fuel stocks rose by 3.6 million barrels to 113.5 million barrels in the week ended Friday. Analysts polled by Dow Jones had expected a fall of 100,000 barrels. The distillate fuel stocks were around 16% below the five-year average for this time of the year.

According to the report, refinery utilisation fell slightly to 95.4% from 95.5% the previous week. Crude oil production in the US, the largest producer of the commodity, rose 41,000 barrels per day to 13.31 million barrels per day in the week ended Friday.

At 1337 IST, the most-active September contract of West Texas Intermediate crude oil on the New York Mercantile Exchange was 0.3% higher at $70.19 per barrel.

US crude oil imports averaged 6.1 million barrels per day in the week ended Friday, up 159,000 barrels per day from the previous week. Over the past four weeks, US crude oil imports have averaged around 6.1 million barrels a day, over 11% lower than the corresponding period last year.

Of the top 10 countries that export crude oil to the US, imports from five fell during the week. Imports from Brazil fell the most, by 178,000 barrels per day to 70,000 barrels per day. Imports from Iraq declined by 59,000 barrels per day to 214,000 barrels per day. On the other hand, crude oil imports from Nigeria rose the most by 164,000 barrels per day to 250,000 barrels per day.

For the week ended Friday, crude oil exports by the US fell by 1.2 million barrels per day to 2.7 million barrels per day. Strategic petroleum reserves rose by 200,000 barrels to 402.7 million barrels during the week.

Inventories of crude oil at Cushing in Oklahoma, a key delivery point for West Texas Intermediate crude, rose by 700,000 barrels to 22.6 million barrels in the week ended Friday. 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 87.59

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

Reported by Taniva Singha Roy

Edited by Subhojit Sarkar

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