Crude Oil Summary (EIA):
U.S. crude oil refinery inputs averaged 14.8 million barrels per day during the week ending April 16, 2021 which was 286,000 barrels per day less than the previous week’s average. Refineries operated at 85.0% of their operable capacity last week. Gasoline production decreased last week, averaging 9.4 million barrels per day. Distillate fuel production decreased last week, averaging 4.6 million barrels per day. U.S. crude oil imports averaged 5.4 million barrels per day last week, down by 448,000 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 5.9 million barrels per day, 5.0% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 1.1 million barrels per day, and distillate fuel imports averaged 162,000 barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.6 million barrels from the previous week. At 493.0 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 0.1 million barrels last week and are about 3% below the five year average for this time of year. Finished gasoline inventories decreased while blending components inventories increased last week. Distillate fuel inventories decreased by 1.1 million barrels last week and are about 2% above the five year average for this time of year. Propane/propylene inventories decreased by 0.1 million barrels last week and are about 18% below the five year average for this time of year. Total commercial petroleum inventories increased by 3.6 million barrels last week. Total products supplied over the last four-week period averaged 19.7 million barrels a day, up by 30.7% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.9 million barrels a day, up by 61.5% from the same period last year. Distillate fuel product supplied averaged 3.9 million barrels a day over the past four weeks, up by 15.9% from the same period last year. Jet fuel product supplied was up 62.9% compared with the same four-week period last year. The West Texas Intermediate crude oil price was $63.16 per barrel on April 16, 2021, $3.87 above last week’s price and $44.85 more than a year ago. The spot price for conventional gasoline in the New York Harbor was $2.029 per gallon, $0.073 greater than last week’s price and $1.406 above a year ago. The spot price for ultra-low sulfur diesel fuel in the New York Harbor was $1.894 per gallon, $0.084 above last week’s price and $0.927 0ver a year ago. The national average retail regular gasoline price was $2.855 per gallon on April 19, 2021, $0.006 per gallon more than last week’s price and $1.043 over a year ago. The national average retail diesel fuel price was $3.124 per gallon, $0.005 per gallon below last week’s level but $0.644 over a year ago.
