Crude Oil Summary (EIA):
U.S. crude oil refinery inputs averaged 15.7 million barrels per day during the week ending April 22, 2022 which was 33,000 barrels per day less than the previous week’s average. Refineries operated at 90.3% of their operable capacity last week. Gasoline production decreased last week, averaging 9.5 million barrels per day. Distillate fuel production decreased last week, averaging 4.8 million barrels per day. U.S. crude oil imports averaged 5.9 million barrels per day last week, up by 98,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.0 million barrels per day, 0.3% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 845,000 barrels per day, and distillate fuel imports averaged 125,000 barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.7 million barrels from the previous week. At 414.4 million barrels, U.S. crude oil inventories are about 16% below the five year average for this time of year. Total motor gasoline inventories decreased by 1.6 million barrels last week and are about 4% below the five year average for this time of year. Finished gasoline and blending components inventories both decreased last week. Distillate fuel inventories decreased by 1.4 million barrels last week and are about 21% below the five year average for this time of year. propane/propylene inventories increased by 2.2 million barrels last week and are about 12% below the five year average for this time of year. Total commercial petroleum inventories increased by 0.7 million barrels last week. Total products supplied over the last four-week period averaged 19.4 million barrels a day, down by 1.6% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.7 million barrels a day, down by 2.2% from the same period last year. Distillate fuel product supplied averaged 3.7 million barrels a day over the past four weeks, down by 7.4% from the same period last year. Jet fuel product supplied was up 23.9% compared with the same four-week period last year. The West Texas Intermediate price was $102.86 per barrel on April 22, 2022, $40.68 more than a year ago. The spot price for conventional gasoline in the New York Harbor was $3.067 per gallon, $1.100 above a year ago. The spot price for ultra-low sulfur diesel fuel in the New York Harbor was $4.101 per gallon, $2.227 over a year ago. The national average retail regular gasoline price increased to $4.107 per gallon on April 25, 2022, $0.041 above last week’s price and $1.235 over a year ago. The national average retail diesel fuel price increased to $5.160 per gallon, $0.059 per gallon more than last week’s price and $2.036 higher than a year ago.
