EIA Reports US Crude Inventories Drop 7.17 Million Barrels to Lowest Since 2018
The US Energy Information Administration reported a 7.167 million barrel draw in commercial crude stockpiles for the week ending July 24, significantly exceeding the forecast for a 1 million barrel build. Including a 3.8 million barrel reduction in strategic reserves, total US crude inventories fell by approximately 11 million barrels.
Commercial stockpiles slid to their lowest level since September 2018 and currently sit 7 percent below the five-year average. Gasoline inventories were essentially flat with a build of 7,000 barrels, while distillate stockpiles rose by 1.062 million barrels. Storage levels at the Cushing, Oklahoma benchmark hub dropped by 771,000 barrels to their lowest since August 2014. Refinery utilization remained elevated at 97.2 percent of capacity.
From the sources (25 posts)
@hfi_research😅 +3.3 to -3.3, that’s kind of a big change? Now EIA will report -5 or more.
@oilheadlinenewsAPI Inventories *corrected Crude -3.3 million Gasoline +918,000 Distillates +355,000 Cushing -273,000 SPR actual -3.7 million @JuliOnTwtr
@staunovoRT @JuliOnTwtr: 🚨🚨CORRECTED!!! API Inventory Moves 07/28/26 Crude -3.3 million Gasoline +918,000 Distillates +355,000 Cushing -273,000…
@steve_hankeCrude oil stocks in the US Strategic Petroleum Reserve FELL by 3.7 million barrels last week to 307.7 million barrels. That is the LOWEST level since 1983. TRUMP IS NEARING THE BOTTOM OF THE BARREL. PRICES WILL SOON SPIKE.
@firstsquawkUS CRUDE OIL INVENTORIES ACTUAL: -7167K VS 2010K PREVIOUS; EST 256.80K
@staunovoUS petroleum inventories (crude, SPR, refined products) fell by 7.500mb w/w to 1,526.350mb last week - EIA #oott
@firstsquawkUS CUSHING CRUDE OIL INVENTORIES ACTUAL: -771K VS -674K PREVIOUS
@financialjuiceEIA GASOLINE INVENTORIES ACTUAL 0.007M (FORECAST -1.092M, PREVIOUS 0.765M) $MACRO
@financialjuiceEIA DISTILLATE INVENTORIES ACTUAL 1.062M (FORECAST 0.5M, PREVIOUS 1.395M) $MACRO
@financialjuice🔴 EIA CRUDE OIL INVENTORIES ACTUAL -7.167M (FORECAST 1M, PREVIOUS 2.010M) $MACRO
@financialjuiceEIA CRUDE CUSHING INVENTORIES ACTUAL -0.771M (FORECAST -, PREVIOUS -0.674M) $MACRO
@staunovoUS crude inventories fell by 10.964mb last week (commercial: -7.167mb, SPR: -3.797mb) EIA #oott
@gasbuddyguyEIA, week ending 7/24 Crude oil: -7.2M Domestic prod: 13.796MMbpd Cushing: -0.8M Gasoline: +0.0M Mogas supplied: 9.041MMbpd Distillates: +1.1M Refiner utilz: 97.2% Ref inputs: 17.518MMbpd Total exports: 11.530MMbpd #oil #eia #gas
@financialjuiceEIA Weekly Inventories
@chigrlEIA (wk ending 24 July) Crude: -7.167M Cushing: -0.771M Gasoline: 0.007M Distillates: 1.062M
@staunovoUS implied oil demand (product supplied) rose by 235kbpd w/w to 20.754mbpd last week w/w in kbpd gasoline +94 jet fuel -318 distillate -194 residual fuel oil +8 propane/propylene -46 other oils +692 EIA #oott
@zerohedgeWTI Holds Spike After Big Crude Draw, SPR Drain Continues As Cushing Stocks Stuck At 'Tank Bottoms'
@zerohedgeCrude -7.167MM, Exp. +1.00MM Gasoline +7K Distillates +1.062MM Cushing -771K Production -2kb/s to 13.796MM SPR -5.057MM to 307.650MM All reserves will hit a brick wall at the same time.
@staunovoUS crude imports by origin incl w/w changes in kbpd Canada -15 to 3,620 Mexico -331 to 149 Venezuela -15 to 673 Brazil +27 to 269 Colombia +9 to 150 Nigeria +84 to 84 Ecuador +127 to 230 Libya +21 to 29 Saudi Arabia, Iraq unchanged at 0 E
@tomklozaEIA data on crude bears little resemblance to API report. Commercial stocks down 7.2 mbbl thanks to a 6.5-mbbl draw at Gulf Coast. Combined with 3.8-mbbl of SPR decline, it's an unusually large inventory decline for midsummer.
@financialjuiceUS crude stockpiles excluding SPR fell in latest week to lowest since september 2018 - EIA
@hfi_researchEIA reported -7.2 million bbls for commercial. Total crude draw of ~11 million bbls.
@macroedgeresEIA (wk ending 24 July) Crude: -7.167M Cushing: -0.771M Total crude draw -11 million barrels #MacroEdge
@staunovoUS crude and refined product exports in mbpd - EIA #oott
@rory_johnstonUS commercial petroleum stocks fell by 3.7 MMbbl last week, with product builds (especially propane) offsetting a larger 7.2 MMbbl draw in commercial crude stocks. Total crude stocks stocks fell by 11 MMbbl including a 3.8 MMbbl SPR draw.