Data per the EIA weekly report.
Crude stocks rose +4.9M barrels, from last week, and remains down -3.0% from the 5 year seasonal average. It should be noted the 5 year average includes the abnormal 2020 and 2021 number. Otherwise, the current inventory is nearly +1.6% above normal.
Distillates increased +985K; and Gasoline inventories slid -207K barrels. The SPR fell another -2.5M barrels.
WTI is $70.02, compared to $74.19, one week ago, and $112.72, one year ago.
Refinery output continues to edge up on a weekly basis, as well as above year ago levels.
For anyone interested, the U.S. has exported 687.9M barrels of crude and petroleum products, more than imported, since March 1, 2022.
Overall, crude stocks remain quite healthy, despite the major drop and compared to this time last year, with days supply at 28.7, compared to last year's 25.9 days.
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