Crude Oil Summary (EIA):
U.S. crude oil refinery inputs averaged 16.0 million barrels per day during the week ending August 13, 2021 which was 191,000 barrels per day less than the previous week’s average. Refineries operated at 92.2% of their operable capacity last week. Gasoline production increased last week, averaging 10.0 million barrels per day. Distillate fuel production decreased last week, averaging 4.8 million barrels per day. U.S. crude oil imports averaged 6.4 million barrels per day last week, down by 46,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.4 million barrels per day, 14.1% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 743,000 barrels per day, and distillate fuel imports averaged 142,000 barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 3.2 million barrels from the previous week. At 435.5 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 0.7 million barrels last week and are about 3% 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 2.7 million barrels last week and are about 8% below the five year average for this time of year. Propane/propylene inventories increased by 1.4 million barrels last week and are about 18% below the five year average for this time of year. Total commercial petroleum inventories decreased by 5.3 million barrels last week. Total products supplied over the last four-week period averaged 20.8 million barrels a day, up by 13.2% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.5 million barrels a day, up by 8.4% from the same period last year. Distillate fuel product supplied averaged 4.0 million barrels a day over the past four weeks, up by 10.9% from the same period last year. Jet fuel product supplied was up 56.1% compared with the same four-week period last year. The West Texas Intermediate crude oil price was $68.36 per barrel on August 13, 2021, $0.10 above last week’s price and $26.31 more than a year ago. The spot price for conventional gasoline in the New York Harbor was $2.263 per gallon, $0.002 less than last week’s price but $1.029 above a year ago. The spot price for ultra-low sulfur diesel fuel in the New York Harbor was $2.063 per gallon, $0.013 below last week’s price but $0.839 over a year ago. The national average retail regular gasoline price was $3.174 per gallon on August 16, 2021, $0.002 per gallon more than last week’s price and $1.008 over a year ago. The national average retail diesel fuel price was $3.356 per gallon, $0.008 below last week’s price but $0.929 over a year ago.
