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Informist, Thursday, Aug. 7, 2025

MUMBAI – Crude oil inventories in the US, excluding those in strategic petroleum reserves, fell by 3 million barrels to 423.7 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 rise by 100,000 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 said.

Petrol inventories fell by 1.3 million barrels from the previous week to 227.1 million barrels in the week ended Friday. Analysts polled by Dow Jones had forecast a fall of 1.1 million barrels. Petrol stocks were 1% below the five-year average for this time of the year, the report said. Distillate fuel stocks fell by 600,000 barrels to 113.0 million barrels in the week ended Friday, as against a 600,000-barrel rise expected in the Dow Jones poll. The distillate fuel stocks were around 16% below the five-year average for this time of the year.

According to the report, refinery utilisation rose to 96.9% from 95.4% the previous week. Crude oil production in the US, the largest producer of the commodity, fell 30,000 barrels per day to 13.28 million barrels per day in the week ended Friday.

At 1430 IST, the most-active September contract of West Texas Intermediate crude oil on the New York Mercantile Exchange was 0.3% higher at $64.56 per barrel.

US crude oil imports averaged 6.0 million barrels per day in the week ended Friday, down 174,000 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, around 10% lower than the corresponding period last year.

Of the top 10 countries that export crude oil to the US, imports from five rose during the week. Imports from Brazil rose the most, by 362,000 barrels per day to 433,000 barrels per day. Imports from Mexico rose by 258,000 barrels per day to 429,000 barrels per day. On the other hand, crude oil imports from Canada fell the most by 237,000 barrels per day to 3.9 million barrels per day.

For the week ended Friday, crude oil exports by the US rose 620,000 barrels per day to 3.3 million barrels per day. Strategic petroleum reserves rose by 200,000 barrels to 403.0 million barrels during the week.

Inventories of crude oil at Cushing in Oklahoma, a key delivery point for West Texas Intermediate crude, rose by 500,000 barrels to 23.0 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 87.71

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

Reported by Ashutosh Pati

Edited by Saji George Titus

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