US crude and distillate inventories fall, gasoline stocks rise, EIA says
USO•US crude inventories fell by 1.9 million barrels to 410.6 million in the week ended October 23, while gasoline stocks rose by 3.9 million barrels and distillate stocks fell by 1.5 million barrels. Total product supplied fell by 1.022 million barrels per day to 20.21 million bpd.
1. Inventory changes
Crude inventories fell by 1.9 million barrels to 410.6 million barrels, against analysts’ expectations for a 15,000-barrel increase. Stocks at the Cushing, Oklahoma, delivery hub fell by 624,000 barrels, and Gulf Coast inventories reached their lowest level since December 2024.
2. Demand and exports
Gasoline inventories rose by 3.9 million barrels to 209.2 million, versus expectations for a 900,000-barrel draw; Midwest stocks were at record lows. Distillate inventories fell by 1.5 million barrels to 102.8 million. Total product supplied fell by 1.022 million bpd to 20.21 million bpd, as gasoline demand dropped by 622,000 bpd and distillate demand rose by 475,000 bpd. EIA-reported crude exports rose by 1.4 million bpd to 4.85 million bpd, though Kpler said its observed loadings were about 1 million bpd lower.
