US crude and fuel inventories fall as demand hits 1-year high, EIA says
USO•US crude inventories fell by 865,000 barrels and gasoline and distillate stocks also declined in the week ended October 30, the EIA said. Product supplied rose by 1.75 million barrels per day to 21.96 million, its highest level since October 2025.
1. Crude inventories fall
US crude inventories fell by 865,000 barrels to 409.8 million barrels in the week ended October 30, against analysts’ expectations for a 877,000-barrel increase. Stocks at the Cushing, Oklahoma, delivery hub rose by 280,000 barrels.
2. Demand and fuel stocks
Product supplied, a proxy for demand, rose by 1.75 million barrels per day to 21.96 million, its highest level since October 2025. Gasoline stocks fell by 222,000 barrels to 209 million, while distillate inventories declined by 3.6 million barrels to 99.3 million, their lowest level since 2003.
3. Refining and prices
Refinery crude runs rose by 199,000 barrels per day, and utilization increased 1.7 percentage points to 94.5%. Oil futures edged lower after the report; John Kilduff of Again Capital called the report supportive, citing the distillate draw and strong gasoline demand.
