Crude Oil Summary (EIA):
U.S. crude oil refinery inputs averaged 17.3 million barrels per day during the week ending June 14, 2019, which was 200,000 barrels per day more than the previous week’s average. Refineries operated at 93.9% of their operable capacity last week. Gasoline production increased last week, averaging 10.4 million barrels per day. Distillate fuel production increased last week, averaging 5.4 million barrels per day. U.S. crude oil imports averaged 7.5 million barrels per day last week, down by 144,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 7.5 million barrels per day, 7.6% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 837,000 barrels per day, and distillate fuel imports averaged 165,000 barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.1 million barrels from the previous week. At 482.4 million barrels, U.S. crude oil inventories are about 7% above the five year average for this time of year. Total motor gasoline inventories decreased by 1.7 million barrels last week and are about 1% above the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week. Distillate fuel inventories decreased by 0.6 million barrels last week and are about 5% below the five year average for this time of year. Propane/propylene inventories increased by 3.3 million barrels last week and are about 16% above the five year average for this time of year. Total commercial petroleum inventories decreased last week by 0.4 million barrels last week. Total products supplied over the last four-week period averaged 20.7 million barrels per day, up by 1.8% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.7 million barrels per day, up by 2.0% from the same period last year. Distillate fuel product supplied averaged 4.0 million barrels per day over the past four weeks, up by 0.3% from the same period last year. Jet fuel product supplied was up 5.1% compared with the same four-week period last year. The West Texas Intermediate crude oil price was $52.47 per barrel on June 14, 2019, $1.48 below last week’s price and $12.54 less than a year ago. The spot price for conventional gasoline in the New York Harbor was $1.701 per gallon, $0.024 more than last week’s price but $0.258 lower than a year ago. The spot price for ultra-low sulfur diesel fuel in the New York Harbor was $1.821 per gallon, $0.002 above last week’s price but $0.258 under a year ago. The national average retail regular gasoline price was $2.670 per gallon on June 17, 2019, $0.062 lower than last week’s price and $0.209 under a year ago. The national average retail diesel fuel price was $3.070 per gallon, $0.035 below last week’s price and $0.174 under a year ago.
