Crude Oil Summary (EIA):
U.S. crude oil refinery inputs averaged 18.0 million barrels per day during the week ending August 10, 2018, which was 383,000 barrels per day more than the previous week’s average. Refineries operated at 98.1% of their operable capacity last week. Gasoline production increased last week, averaging 10.2 million barrels per day. Distillate fuel production increased last week, averaging 5.3 million barrels per day. U.S. crude oil imports averaged 9.0 million barrels per day last week, up by 1,083,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 8.1 million barrels per day, 0.9% more than the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 663,000 barrels per day, and distillate fuel imports averaged 174,000 barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 6.8 million barrels from the previous week. At 414.2 million barrels, U.S. crude oil inventories are about 1% above the five year average for this time of year. Total motor gasoline inventories decreased by 0.7 million barrels last week and are about 5% above the five year average for this time of year. Finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories increased by 3.6 million barrels last week and are about 8% below the five year average for this time of year. Propane/propylene inventories increased by 3.4 million barrels last week and are about 10% below the five year average for this time of year. Total commercial petroleum inventories increased last week by 17.4 million barrels last week. Total products supplied over the last four-week period averaged 20.8 million barrels per day, down by 1.6% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.6 million barrels per day, down by 1.0% from the same period last year. Distillate fuel product supplied averaged 3.9 million barrels per day over the past four weeks, down by 8.7% from the same period last year. Jet fuel product supplied was up 3.4% compared with the same four-week period last year. The West Texas Intermediate crude oil price was $67.61 per barrel on August 10, 2018, $0.88 below last week’s price but $18.80 higher than a year ago. The spot price for conventional gasoline in the New York Harbor was $2.065 per gallon, $0.024 less than last week’s price but $0.433 higher than a year ago. The spot price for ultra-low sulfur diesel fuel in the New York Harbor was $2.142 per gallon, $0.012 above last week’s price and $0.509 over a year ago. The national average retail regular gasoline price was $2.843 per gallon
on August 13, 2018, $0.009 lower than last week’s price but $0.459 higher than a year ago. The national average retail diesel fuel price was $3.217 per gallon, $0.006 per gallon below last week’s level but $0.619 over a year ago.
