Crude Oil Summary (EIA):
U.S. crude oil refinery inputs averaged 15.1 million barrels per day during the week ending April 9, 2021 which was 7,000 barrels per day more than the previous week’s average. Refineries operated at 85.0% of their operable capacity last week. Gasoline production increased last week, averaging 9.6 million barrels per day. Distillate fuel production increased last week, averaging 4.6 million barrels per day. U.S. crude oil imports averaged 5.9 million barrels per day last week, down by 411,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.0 million barrels per day, 0.7% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 839,000 barrels per day, and distillate fuel imports averaged 261,000 barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 5.9 million barrels from the previous week. At 492.4 million barrels, U.S. crude oil inventories are about 1% above the five year average for this time of year. Total motor gasoline inventories increased by 0.3 million barrels last week and are about 2% below the five year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 2.1 million barrels last week and are about 4% above the five year average for this time of year. Propane/propylene inventories increased by 1.0 million barrels last week and are about 16% below the five year average for this time of year. Total commercial petroleum inventories decreased by 9.1 million barrels last week. Total products supplied over the last four-week period averaged 19.6 million barrels a day, up by 20.0% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.8 million barrels a day, up by 37.4% from the same period last year. Distillate fuel product supplied averaged 3.9 million barrels a day over the past four weeks, up by 8.6% from the same period last year. Jet fuel product supplied was up 24.8% compared with the same four-week period last year. The West Texas Intermediate price was $59.29 per barrel on April 9, 2020. The spot price for conventional gasoline in the New York Harbor was $1.956 per gallon. The spot price for ultra-low sulfur diesel fuel in the New York Harbor was $1.810 per gallon. The national average retail regular gasoline price was $2.849 per gallon on April 12, 2021, $0.008 per gallon less than last week’s price but $0.996 over a year ago. The national average retail diesel fuel price was $3.129 per gallon, $0.015 per gallon below last week’s level but $0.622 over a year ago.
