EIA: US commercial crude oil inventories have decreased in June

Crude oil imports increased 436 000 bpd to 5.6 million bpd, although the four-week average of 5.7 million bpd is 4% below the year-ago level. Gasoline imports averaged 647 000 bpd; distillate imports averaged 135 000 bpd.

Commercial crude oil inventories (excluding the Strategic Petroleum Reserve) decreased by 6.1 million bbl to 412.1 million bbl, 7% below the five-year average. Gasoline inventories increased 2.1 million bbl, 5% below the five-year average. Distillate inventories increased 3.1 million bbl, 10% below the five-year average. Propane/propylene stocks increased by 2.6 million bbl, reaching 35% above the five-year average. Total commercial petroleum inventories decreased by 0.5 million bbl for the week.

Over the past four weeks, total product supplied averaged 20.5 million bpd, a 2% increase year over year. Gasoline implied demand decreased 3% to 8.8 million bpd, while distillate implied demand increased 3% to 3.6 million bpd. Jet fuel implied demand increased 1% year over year.

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