This week: US commercial crude inventories drew a further 3.8 million barrels for the week ending June 26, falling to 408.4 Mbbls β now roughly 6.3% below the five-year seasonal average of 435.9 mb. Refinery utilization firmed to 96.6% (+0.5 ppts), with crude inputs edging higher to 17.2 mb/d. Crude imports fell 0.29 mb/d to 5.3 mb/d and exports fell 0.66 mb/d to 4.0 mb/d. The SPR drew a further 5.5 mb (to 325.7 mb total), continuing the steady drawdown of the strategic reserve. Cushing, OK stocks rebuilt 0.7 mb to 19.7 mb, off the multi-year low set the prior week. US field production held essentially flat at 13.8 mb/d. Inventories have now drawn roughly 57 million barrels over ten consecutive weeks since the mid-April peak of 465.7 mb β the bullish fundamental draw pattern continues into peak summer demand, though at a more moderate weekly pace than the prior week.
π Data: EIA Weekly Petroleum Status Report β Week Ending June 26, 2026 (Released July 1, 2026)
Crude Stocks
408.4
βΌ -3.8 mb w/w
mln bbls | 6.3% below 5yr avg
Cushing, OK
19.7
β² +0.7 mb w/w
mln bbls WTI hub | off multi-yr low
US Production
13.8
β Flat w/w (-0.01 mb/d)
mb/d (EIA WCRFPUS2)
Refinery Inputs
17.2
β² +0.09 mb/d w/w
mb/d crude throughput
Utilization Rate
96.6%
β² +0.5 ppts w/w
% operable capacity
Crude Imports
5.3
βΌ -0.29 mb/d w/w
mb/d
Crude Exports
4.0
βΌ -0.66 mb/d w/w
mb/d (EIA WCREXUS2)
WTI Prompt Spread
+$0.06
CLQ26βCLU26
M1βM2 $/bbl Β· Backwardation (Jul 1)
SPR Stocks
325.7
βΌ -5.5 mb w/w
mln bbls | strategic reserve
Supply / Demand Balance Week Ending June 26, 2026 | mb/d
| DEMAND (Disposition) | |
|---|---|
| Refinery Throughput (Crude Inputs) | 17.20 |
| Crude Exports | 4.01 |
| Total Crude Disposition | ~21.21 |
| SUPPLY | |
| US Field Production | 13.81 |
| Crude Imports | 5.28 |
| SPR Release (WCSSTUS1 draw) | +0.79 |
| Condensate & NGL (est.) | ~0.50 |
| Total Supply | ~20.38 |
| Net Implied Balance (Supply β Demand) | -3.8 mb (draw) |
| Product Stocks | Current (mb) | W/W Chg | vs 5yr Avg |
|---|---|---|---|
| Crude Oil (excl. SPR) | 408.4 | -3.8 | -6.3% |
| Cushing, OK (WTI hub) | 19.7 | +0.7 | Off multi-yr low |
| Motor Gasoline (Total) | 214.0 | -2.3 | N/A |
| Distillate Fuel Oil | 108.6 | +2.5 | N/A |
| Kerosene-Type Jet Fuel | 48.0 | +1.7 | N/A |
| Refinery Throughput | 17.2 mb/d | +0.09 mb/d | β |
| Utilization Rate | 96.6% | +0.5 ppts | β |
β
Note: All stocks confirmed from EIA API v2 for week ending June 26, 2026: crude (WCESTUS1 408.4 mb, -3.8 mb w/w), Cushing OK (W_EPC0_SAX_YCUOK 19.7 mb, +0.7 mb w/w), gasoline (WGTSTUS1 214.0 mb, -2.3 mb), distillate (WDISTUS1 108.6 mb, +2.5 mb), jet fuel (WKJSTUS1 48.0 mb, +1.7 mb), SPR (WCSSTUS1 325.7 mb, -5.5 mb w/w β ~0.79 mb/d release). US crude production confirmed 13.81 mb/d (WCRFPUS2). Crude exports 4.01 mb/d (WCREXUS2). Refinery inputs 17.20 mb/d (WCRRIUS2). 5yr avg week 26: 435.9 mb (range: 419.0β452.2 mb).
Crude Oil Commercial Inventory Trend Million Barrels | Recent Weeks
US Commercial Crude Inventories vs 5-Year Average
Most recent confirmed: 408.4 mb (June 26, 2026), ~6.3% below 5-yr seasonal average. Shaded band = actual 5-yr seasonal min/max envelope (weekly high/low, 2021β2025). Weeks 1β16 from prior reporting; weeks 17β26 confirmed from EIA WCESTUS1 API. Source: EIA WPSR.