Crude Oil Summary (EIA)
U.S. crude oil refinery inputs averaged 17.1 million barrels per day during the week ending July 17, 2026, which was 58 thousand barrels per day less than the previous week’s average. Refineries operated at 96.1% of their operable capacity last week. Gasoline production increased last week, averaging 9.7 million barrels per day. Distillate fuel production increased, averaging 5.3 million barrels per day. U.S. crude oil imports averaged 5.8 million barrels per day last week, increased by 117 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 5.6 million barrels per day, 11.4% less than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 494 thousand barrels per day, and distillate fuel imports averaged 173 thousand barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 2.0 million barrels from the previous week. At 411.7 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year. Total motor gasoline inventories increased by 0.8 million barrels from last week and are 7% below the five-year average for this time of year. Both finished gasoline and blending component inventories increased last week. Distillate fuel inventories increased by 1.4 million barrels last week and are about 10% below the five-year average for this time of year. Propane/propylene inventories increased by 6.3 million barrels from last week and are 34% above the five-year average for this time of year. Total commercial petroleum inventories increased by 11.6 million barrels last week. Total products supplied over the last four-week period averaged 20.4 million barrels per day, down by 1.0% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.9 million barrels per day, up by 1.4% from the same period last year. Distillate fuel product supplied averaged 3.7 million barrels per day over the past four weeks, up by 2.2% from the same period last year. Jet fuel product supplied was up 9.1% compared with the same four-week period last year. The price for West Texas Intermediate crude oil was $83.43 per barrel on July 17, 2026, $10.98 more than a week ago, and $14.90 more than a year ago. The New York Harbor spot price for conventional gasoline was $3.479 per gallon, $0.513 more than a week ago, and $1.322 more than the year-ago price. The spot price for No. 2 heating oil at New York Harbor was $3.984 per gallon, $0.536 more than a week ago, and $1.628 more than the price last year. The national average retail price for regular gasoline increased to $4.001 per gallon on July 20, 2026, $0.146 more than last week’s price, and $0.880 more than the year-ago price. The national average retail diesel fuel price increased $0.338 to $5.134 per gallon, $1.322 more than the price one year ago.