Data per the EIA weekly report.
Crude stocks fell by -1.5M barrels, from last week, and remains down -2.5% 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 inventory slid -1M barrels; and Gasoline inventories dropped by -2.5M barrels. Distillates and Gasoline are both below 5 year and 3 year adjusted average inventories.
The SPR fell another -1.458M barrels.
WTI is $72.09, compared to $69.45, one week ago, and $101.53, one year ago.
Refinery output slid on a weekly basis, and compared to year ago levels.
For anyone interested, the U.S. has exported 735M barrels of crude and petroleum products, more than imported, since March 1, 2022. It jumped nearly 4.2M barrels this past week.
Overall, crude stocks remain quite healthy, compared to this time last year, with days supply at 27.7, compared to last year's 25.8 days.
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