U.S. Crude Inventories Rise 100,000 Barrels as Fuel Stocks Fall

U.S. crude oil inventories increased to 428.9 million barrels in the week ended Aug. 21, while gasoline and distillate inventories declined, according to the U.S. Energy Information Administration.

U.S. Crude Inventories Rose to 428.9 Million Barrels

U.S. crude oil inventories for the week ended Aug. 21, excluding the Strategic Petroleum Reserve, increased by 100,000 bbl from the previous week, according to data from the U.S. Energy Information Administration (EIA).

At 428.9 million bbl, U.S. crude oil inventories are 1% above the five-year average for this time of year, the EIA report indicated.

Gasoline and Distillate Inventories Declined

EIA said total motor gasoline inventories decreased by 2.5 million bbl from last week and are 6% below the five-year average for this time of year.

Finished gasoline inventories and blending components inventories both decreased last week.

Distillate fuel inventories decreased by 2.2 million bbl last week and are about 14% below the five-year average for this time of year.

Propane-Propylene Inventories Increased

Propane-propylene inventories increased by 2.5 million bbl from last week and are 32% above the five-year average for this time of year, EIA said.

Refineries Operated at 97.4% of Capacity

U.S. crude oil refinery inputs averaged 17.4 million b/d for the week ended Aug. 21, which was 1,000 b/d less than the previous week’s average. Refineries operated at 97.4% of capacity.

Gasoline production increased, averaging 9.8 million b/d. Distillate fuel production decreased, averaging 5.1 million b/d.

U.S. Crude Oil Imports Fell to 6.2 Million Barrels Per Day

U.S. crude oil imports averaged 6.2 million b/d, down 435,000 b/d from the previous week.

Over the last four weeks, crude oil imports averaged about 6.6 million b/d, 2.6% more than the same four-week period last year.

Total motor gasoline imports averaged 565,000 b/d. Distillate fuel imports averaged 176,000 b/d.