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Informist, Thursday, Jul. 30, 2026

MUMBAI – Crude oil inventories in the US, excluding those in strategic petroleum reserves, fell by 7.2 million barrels to 404.5 million barrels in the week ended Friday, the US Energy Information Administration said in its weekly report. Analysts polled by Dow Jones had expected inventories to fall by 600,000 barrels. US crude oil inventories were about 6% below the five-year average for this time of the year, according to the agency's report.

Petrol inventories in the US increased slightly from the previous week to 211.3 million barrels and were 7% below the five-year average for this time of year in the week ended Friday, the report showed. While finished petrol inventories increased, blending component inventories fell. Analysts polled by Dow Jones had expected petrol inventories to fall by 800,000 barrels. 

Distillate fuel inventories were up 1.1 million barrels from the previous week at 110.6 million barrels. Distillate fuel stocks were around 10% below the five-year average for this time of the year. Propane or propylene inventories increased by 2.5 million barrels from last week to 102.3 million barrels. Propane or propylene inventory was 34% above the five-year average for this time of the year.

Refinery utilisation in the US rose to 97.2% from 96.2% the previous week. Crude oil production in the country, the largest producer of the commodity, fell slightly by 2,000 barrels per day to 13.796 million barrels per day in the week ended Friday.

US crude oil exports were up by 114,000 barrels at 3.47 million barrels per day, according to the report. The country's strategic petroleum reserves fell by 3.8 million barrels to 307.7 million barrels during the week.

US crude oil imports averaged 5.7 million barrels per day during the week, down by 124,000 barrels per day from last week, the report showed. Over the past four weeks, US crude oil imports have averaged around 5.7 million barrels per day, 7% less than in the corresponding period last year.

Of the top 10 countries that export crude oil to the US, imports from three fell in the week ended Friday. Imports from Mexico declined the most, by 332,000 barrels per day to 149,000 barrels per day. On the other hand, imports from Ecuador rose the most, by 127,000 barrels per day to 230,000 barrels per day, according to the report.

Inventories of crude oil at Cushing, Oklahoma, a key delivery point for West Texas Intermediate crude, fell by 800,000 barrels to 18.6 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 1037 IST, the most-active September crude oil contract on NYMEX was down 0.53% at $84.01 per barrel.

End

US$1 = INR 95.66

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

Reported by Ritwika Dutta

Edited by Himanshi Gupta

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