EIA: Crude Draws 9.3M bbl, Distillates Build, Gasoline Falls

DAVENPORT, FL (DTN) — U.S. crude oil inventories fell sharply in the week ending September 12 and gasoline stocks declined too, while distillate fuel oil supplies posted a third consecutive weekly build, the Energy Information Administration reported Wednesday (9/17).

Commercial crude stocks decreased by 9.3 million bbl to 415.4 million bbl. That  was 2.2 million bbl below the volume reported during the same week last year. Inventories at Cushing, Oklahoma, the delivery point for NYMEX West Texas Intermediate futures, slipped by 300,000 bbl to 23.6 million bbl.

Distillate fuel oil inventories increased week-over-week by 4.0 million bbl to 124.7 million bbl, 0.5 million bbl below last year’s level, the EIA data showed. The build marked the third consecutive weekly increase.

Motor gasoline inventories decreased by 2.3 million bbl to 217.6 million bbl, 4.0 million bbl below the comparable week in 2024. Blending components were little changed at 202.8 million bbl, while conventional gasoline stocks declined by 1.5 million bbl.

Refinery utilization stood at 93.3% of capacity, down from 94.9% the prior week but above the 92.1% rate during the same period last year. Crude runs averaged 16.424 million bpd, down by 394,000 bpd week-on-week.

Crude exports averaged 5.277 million bpd, compared with 2.745 million bpd the previous week and 4.159 million bpd last year. Crude imports fell by 579,000 bpd to 5.692 million bpd, 630,000 bpd below last year levels.

Total products supplied over the last four weeks averaged 20.308 million bpd, up by 203,000 bpd from the same period last year. Gasoline demand averaged 8.810 million bpd, up by 302,000 bpd from the prior week and 34,000 bpd above the last year level. Distillate demand averaged 3.621 million bpd, up by 244,000 bpd from the previous week but 177,000 bpd below the same week in 2024.