This week: US commercial crude inventories drew a further 6.1 million barrels for the week ending June 19, falling to 412.1 Mbbls β now roughly 5.9% below the five-year seasonal average of 437.8 mb. Refinery utilization eased slightly to 96.1% (-0.6 ppts), with crude inputs edging lower to 17.1 mb/d. Crude imports rose 0.44 mb/d to 5.6 mb/d and exports increased 0.34 mb/d to 4.7 mb/d. The SPR drew a massive 9.1 mb (to 331.2 mb total), the largest single-week SPR draw in months. Cushing, OK stocks fell another 1.1 mb to just 19.0 mb β continuing to set multi-year lows at the WTI pricing hub. US field production held essentially flat at 13.8 mb/d. Inventories have now drawn roughly 53 million barrels over nine consecutive weeks since the mid-April peak of 465.7 mb β a sustained and deepening bullish fundamental signal at peak summer demand.
π Data: EIA Weekly Petroleum Status Report β Week Ending June 19, 2026 (Released June 24, 2026)
Crude Stocks
412.1
βΌ -6.1 mb w/w
mln bbls | 5.9% below 5yr avg
Cushing, OK
19.0
βΌ -1.1 mb w/w
mln bbls WTI hub | multi-yr low
US Production
13.8
β Flat w/w (+0.01 mb/d)
mb/d (EIA WCRFPUS2)
Refinery Inputs
17.1
βΌ -0.08 mb/d w/w
mb/d crude throughput
Utilization Rate
96.1%
βΌ -0.6 ppts w/w
% operable capacity
Crude Imports
5.6
β² +0.44 mb/d w/w
mb/d
Crude Exports
4.7
β² +0.34 mb/d w/w
mb/d (EIA WCREXUS2)
WTI Prompt Spread
+$0.36
CLQ26βCLU26
M1βM2 $/bbl Β· Backwardation (Jun 24)
SPR Stocks
331.2
βΌ -9.1 mb w/w
mln bbls | strategic reserve
Supply / Demand Balance Week Ending June 19, 2026 | mb/d
| DEMAND (Disposition) | |
|---|---|
| Refinery Throughput (Crude Inputs) | 17.11 |
| Crude Exports | 4.67 |
| Total Crude Disposition | ~21.78 |
| SUPPLY | |
| US Field Production | 13.82 |
| Crude Imports | 5.57 |
| SPR Release (WCSSTUS1 draw) | +1.29 |
| Condensate & NGL (est.) | ~0.50 |
| Total Supply | ~21.18 |
| Net Implied Balance (Supply β Demand) | -6.1 mb (draw) |
| Product Stocks | Current (mb) | W/W Chg | vs 5yr Avg |
|---|---|---|---|
| Crude Oil (excl. SPR) | 412.1 | -6.1 | -5.9% |
| Cushing, OK (WTI hub) | 19.0 | -1.1 | Multi-yr low |
| Motor Gasoline (Total) | 216.3 | +2.1 | N/A |
| Distillate Fuel Oil | 106.1 | +3.1 | N/A |
| Kerosene-Type Jet Fuel | 46.3 | +1.3 | N/A |
| Refinery Throughput | 17.1 mb/d | -0.08 mb/d | β |
| Utilization Rate | 96.1% | -0.6 ppts | β |
β
Note: All stocks confirmed from EIA API v2 for week ending June 19, 2026: crude (WCESTUS1 412.1 mb, -6.1 mb w/w), Cushing OK (W_EPC0_SAX_YCUOK 19.0 mb, -1.1 mb w/w), gasoline (WGTSTUS1 216.3 mb, +2.1 mb), distillate (WDISTUS1 106.1 mb, +3.1 mb), jet fuel (WKJSTUS1 46.3 mb, +1.3 mb), SPR (WCSSTUS1 331.2 mb, -9.1 mb w/w β ~1.29 mb/d release). US crude production confirmed 13.82 mb/d (WCRFPUS2). Crude exports 4.67 mb/d (WCREXUS2). 5yr avg week 26: 437.8 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: 412.1 mb (June 19, 2026), ~5.9% 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.