Summary (EIA):
U.S. crude oil refinery inputs averaged about 16.6 million barrels per day during the week ending April 27, 2018, 60,000 barrels per day less than the previous week’s average. Refineries operated at 91.1% of their operable capacity last week. Gasoline production increased last week, averaging over 10.0 million barrels per day. Distillate fuel production remained virtually unchanged last week, averaging 5.0 million barrels per day. U.S. crude oil imports averaged over 8.5 million barrels per day last week, up by 80,000 barrels per day from the previous week. Over the last four weeks, crude oil imports averaged over 8.4 million barrels per day, 2.2% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 923,000 barrels per day. Distillate fuel imports averaged 76,000 barrels per day last week. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 6.2 million barrels from the previous week. At 436.0 million barrels, U.S. crude oil inventories are in the lower half of the average range for this time of year. Total motor gasoline inventories increased by 1.2 million barrels last week, and are in the upper half of the average range. Both finished gasoline inventories and blending components inventories increased last week. Distillate fuel inventories decreased by 3.9 million barrels last week and are in the lower half of the average range for this time of year. Propane/propylene inventories increased by 0.7 million barrels last week, and are in the lower half of the average range. Total commercial petroleum inventories increased by 5.4 million barrels last week. Total products supplied over the last four-week period averaged about 20.1 million barrels per day, up by 2.7% from the same period last year. Over the last four weeks, motor gasoline product supplied averaged over 9.3 million barrels per day, up by 1.2% from the same period last year. Distillate fuel product supplied averaged about 4.2 million barrels per day over the last four weeks, up by 0.1% from the same period last year. Jet fuel product supplied is up 1.7% compared to the same four-week period last year. The WTI price was $68.11 per barrel on April 27, 2018, $0.15 below last week’s price but $18.80 over a year ago. The spot price for conventional gasoline in the New York Harbor was $2.081 per gallon, $0.014 more than last week’s price and $0.597 higher than a year ago. The spot price for ultra-low sulfur diesel fuel in the New York Harbor was $2.155 per gallon, $0.029 over last week’s price and $0.653 above a year ago. The national average retail regular gasoline price increased to $2.846 per gallon on April 30, 2018, $0.048 higher than last week’s price and $0.435 more than a year ago. The national average retail diesel fuel price increased for the sixth week in a row to $3.157 per gallon, $0.024 per gallon above last week and $0.574 over a year ago.
