This week: US commercial crude inventories drew a further 8.3 million barrels for the week ending June 12, falling to 418.2 Mbbls β now roughly 4.8% below the five-year seasonal average of 439.5 mb. Refinery utilization surged to 96.7% (up 1.4 ppts), with crude inputs rising to 17.2 mb/d β the highest in months as summer peak demand arrives. Crude imports fell sharply by 0.75 mb/d to 5.1 mb/d and exports eased 0.51 mb/d to 4.3 mb/d. The SPR drew another 8.9 mb (to 340.3 mb total). Cushing, OK stocks fell 1.6 mb to just 20.0 mb β a multi-year low for the WTI pricing hub. US field production was essentially flat at ~13.8 mb/d. Inventories have now drawn roughly 47 million barrels over eight consecutive weeks since the mid-April peak of 465.7 mb β an intensifying bullish fundamental signal at peak summer demand.
π Data: EIA Weekly Petroleum Status Report β Week Ending June 12, 2026 (Released June 17, 2026)
Crude Stocks
418.2
βΌ -8.3 mb w/w
mln bbls | 4.8% below 5yr avg
Cushing, OK
20.0
βΌ -1.6 mb w/w
mln bbls WTI hub | multi-yr low
US Production
13.8
β Unchanged w/w
mb/d (EIA WCRFPUS2)
Refinery Inputs
17.2
β² +0.23 mb/d w/w
mb/d crude throughput
Utilization Rate
96.7%
β² +1.4 ppts w/w
% operable capacity
Crude Imports
5.1
βΌ -0.75 mb/d w/w
mb/d
Crude Exports
4.3
βΌ -0.51 mb/d w/w
mb/d (EIA WCREXUS2)
WTI Prompt Spread
+$0.76
CLN26βCLQ26
M1βM2 $/bbl Β· Backwardation (Jun 17)
SPR Stocks
340.3
βΌ -8.9 mb w/w
mln bbls | strategic reserve
Supply / Demand Balance Week Ending June 12, 2026 | mb/d
| DEMAND (Disposition) | |
|---|---|
| Refinery Throughput (Crude Inputs) | 17.19 |
| Crude Exports | 4.33 |
| Total Crude Disposition | ~21.52 |
| SUPPLY | |
| US Field Production | 13.81 |
| Crude Imports | 5.13 |
| SPR Release (WCSSTUS1 draw) | +1.28 |
| Condensate & NGL (est.) | ~0.50 |
| Total Supply | ~20.72 |
| Net Implied Balance (Supply β Demand) | -8.3 mb (draw) |
| Product Stocks | Current (mb) | W/W Chg | vs 5yr Avg |
|---|---|---|---|
| Crude Oil (excl. SPR) | 418.2 | -8.3 | -4.8% |
| Cushing, OK (WTI hub) | 20.0 | -1.6 | Multi-yr low |
| Motor Gasoline (Total) | 214.2 | -0.9 | N/A |
| Distillate Fuel Oil | 103.1 | +1.0 | N/A |
| Kerosene-Type Jet Fuel | 45.0 | -1.1 | N/A |
| Refinery Throughput | 17.2 mb/d | +0.23 mb/d | β |
| Utilization Rate | 96.7% | +1.4 ppts | β |
β
Note: All stocks confirmed from EIA API v2 for week ending June 12, 2026: crude (WCESTUS1 418.2 mb, -8.3 mb w/w), Cushing OK (20.0 mb, -1.6 mb w/w), gasoline (WGTSTUS1 214.2 mb), distillate (WDISTUS1 103.1 mb), jet fuel (WKJSTUS1 45.0 mb), SPR (WCSSTUS1 340.3 mb, -8.9 mb w/w β ~1.28 mb/d release). US crude production confirmed 13.81 mb/d (WCRFPUS2). Crude exports 4.33 mb/d (WCREXUS2). 5yr avg week 25: 439.5 mb (range: 415.1β460.7 mb).
Crude Oil Commercial Inventory Trend Million Barrels | Recent Weeks
US Commercial Crude Inventories vs 5-Year Average
Most recent confirmed: 418.2 mb (June 12, 2026), ~4.8% below 5-yr seasonal average. Shaded band = actual 5-yr seasonal min/max envelope (weekly high/low, 2021β2025). Weeks 1β16 from prior reporting; weeks 17β25 confirmed from EIA WCESTUS1 API. Source: EIA WPSR.