U.S. industrial crude oil inventories, excluding these within the Strategic Petroleum Reserve (SPR), decreased by two million barrels from the week ending April 25 to the week ending Might 2, the U.S. Vitality Info Administration (EIA) highlighted in its newest weekly petroleum standing report.
That EIA report was launched on Might 7 and included knowledge for the week ending Might 2. It confirmed that crude oil shares, not together with the SPR, stood at 438.4 million barrels on Might 2, 440.4 million barrels on April 25, and 459.5 million barrels on Might 3, 2024. Crude oil within the SPR stood at 399.1 million barrels on Might 2, 398.5 million barrels on April 25, and 367.2 million barrels on Might 3, 2024, the report outlined.
Whole petroleum shares – together with crude oil, whole motor gasoline, gas ethanol, kerosene kind jet gas, distillate gas oil, residual gas oil, propane/propylene, and different oils – stood at 1.612 billion barrels on Might 2, the report confirmed. Whole petroleum shares had been up 1.7 million barrels week on week and up 5.7 million barrels 12 months on 12 months, the report revealed.
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“At 438.4 million barrels, U.S. crude oil inventories are about seven p.c beneath the 5 12 months common for this time of 12 months,” the EIA mentioned in its newest weekly petroleum standing report.
“Whole motor gasoline inventories elevated by 0.2 million barrels from final week and are about three p.c beneath the 5 12 months common for this time of 12 months. Completed gasoline inventories elevated and mixing elements inventories decreased final week,” it added.
“Distillate gas inventories decreased by 1.1 million barrels final week and are about 13 p.c beneath the 5 12 months common for this time of 12 months. Propane/propylene inventories elevated by a million barrels from final week and are 11 p.c beneath the 5 12 months common for this time of 12 months,” it continued.
U.S. crude oil refinery inputs averaged 16.1 million barrels per day throughout the week ending Might 2, the EIA famous within the report, including that this was 7,000 barrels per day lower than the earlier week’s common.
“Refineries operated at 89 p.c of their operable capability final week,” the EIA mentioned within the report.
“Gasoline manufacturing elevated final week, averaging 9.7 million barrels per day. Distillate gas manufacturing elevated by 41,000 barrels per day final week, averaging 4.7 million barrels per day,” it added.
U.S. crude oil imports averaged six million barrels per day final week, the EIA said within the report. It highlighted that this was a rise of 557,000 barrels per day from the earlier week.
“Over the previous 4 weeks, crude oil imports averaged about 5.8 million barrels per day, 13.3 p.c lower than the identical four-week interval final 12 months,” the EIA said in its report.
“Whole motor gasoline imports (together with each completed gasoline and gasoline mixing elements) final week averaged 765,000 barrels per day, and distillate gas imports averaged 117,000 barrels per day,” it added.
Whole merchandise equipped during the last four-week interval averaged 19.8 million barrels a day, the EIA mentioned in its report. It identified that this was down by 0.6 p.c from the identical interval final 12 months.
“Over the previous 4 weeks, motor gasoline product equipped averaged 8.9 million barrels a day, up by 3.5 p.c from the identical interval final 12 months,” the EIA mentioned within the report.
“Distillate gas product equipped averaged 3.7 million barrels a day over the previous 4 weeks, up by 3.1 p.c from the identical interval final 12 months. Jet gas product equipped was up 16.4 p.c in contrast with the identical four-week interval final 12 months,” it added.
In an oil and gasoline report despatched to Rigzone late Monday by the Macquarie staff, Macquarie strategists revealed that they had been forecasting that U.S. crude inventories could be up by 2.4 million barrels for the week ending Might 2.
“This compares to our early look which anticipated a 5.2 million barrel construct,” the Macquarie strategists mentioned in that report.
The EIA additionally highlighted in its report that the value for West Texas Intermediate crude oil was $59.67 per barrel on Might 2, “$4.18 lower than per week in the past, and $19.98 lower than a 12 months in the past”.
It went on to state within the report that the nationwide common retail worth for normal gasoline elevated to $3.147 per gallon on Might 5, 2025, “$0.014 above final week’s worth, and $0.496 lower than the year-ago worth”.
“The nationwide common retail diesel gas worth decreased $0.017 to $3.497 per gallon, $0.397 decrease than the value one 12 months in the past,” the EIA identified within the report.
In accordance with the AAA Gas Costs web site, the common worth of standard gasoline within the U.S. is $3.145 per gallon and the common worth of diesel within the nation is $3.532 per gallon, as of Might 9.
The EIA’s subsequent weekly petroleum standing report is scheduled to be launched on Might 14. It would embrace knowledge for the week ending Might 9.
To contact the writer, e mail andreas.exarheas@rigzone.com
