US crude oil inventories for the week ended June 19, excluding the Strategic Petroleum Reserve, increased by 1.4 million bbl from the previous week, according to data from the US Energy Information Administration.
At 540.7 million bbl, US crude oil inventories are about 16% above the 5-year average for this time of year, the EIA report indicated.
EIA said total motor gasoline inventories decreased by 1.7 million bbl and are 9% above the 5-year range for this time of year. Finished gasoline inventories and blending component inventories both decreased last week. Distillate fuel inventories increased by 249,000 bbl and are about 28% above the 5-year average for this time of year.
Propane-propylene inventories increased by 2.4 million bbl last week and are about 6% above the 5-year average for this time of year, EIA said.
US refinery inputs averaged 13.8 million b/d for the week ended June 19, about 239,000 b/d more than the previous week’s average. Refineries operated at 74.6% of capacity.
Gasoline production increased, averaging 8.8 million b/d. Distillate fuel production increased, averaging 4.6 million b/d.
US crude oil imports averaged 6.5 million b/d, down 102,000 b/d from the previous week. Over the last 4 weeks, crude oil imports averaged 6.6 million b/d, 11.6% less than the same period last year. Total motor gasoline imports averaged 704,000 b/d. Distillate fuel imports averaged 69,000 b/d.