Key Highlights
Commercial Crude Oil Stocks: In the week ended Feb. 16, U.S. crude oil inventories excluding the Strategic Petroleum Reserve increased by 3.5 million barrels to reach 443 million barrels. This is approximately 2% below the five-year average for this time of year.
Would you like to try out trading with an Expert Advisor?Strategic Petroleum Reserve: Storage at the SPR grew by 748,000 barrels to a total of 359.5 million barrels.
Oil at Cushing, Okla.: Inventory at the Nymex delivery hub rose by 741,000 barrels, reaching 29.5 million barrels in total.
Refinery Capactiy and Production
Refinery Capacity Use: Refinery capacity use remained steady at 80.6%, with refinery runs expected to increase by 0.8 percentage points.
Crude Oil Production: U.S. crude oil production maintained around 13.3 million barrels per day.
Trade and Pricing
Imports and Exports: Crude oil imports rose by 184,000 barrels per day to 6.7 million barrels per day, while exports increased by 618,000 barrels per day to 5 million barrels per day.
Price Movement: Crude futures saw an uptick, with West Texas Intermediate up 0.9% at $78.58 a barrel and Brent up by 0.7% at $83.61 a barrel.
Gasoline and Distillate Fuel Stocks
Gasoline Stocks: Gasoline stockpiles decreased by 293,000 barrels to 247 million barrels, staying around 2% below the five-year average.
Distillate Fuels: Stocks of distillate fuels declined by 4 million barrels to 121.7 million barrels, deviating from expectations of a 1.4 million-barrel draw.
Forecast vs. Actual Data
EIA Data: Crude: +3.5 million barrels | Gasoline: -0.3 million barrels | Distillates: -4.0 million barrels | Refinery Use: 0.0 percentage points
Forecast: Crude: +3.2 million barrels | Gasoline: -2.1 million barrels | Distillates: -1.4 million barrels | Refinery Use: +0.8 percentage points
These insights provide a snapshot of the recent trends in U.S. crude oil inventories and related stocks.
Note: All figures are in millions of barrels unless specified otherwise.
