Crude Oil Summary (EIA):
U.S. crude oil refinery inputs averaged 15.4 million barrels per day during the week ending September 24, 2021 which was 67,000 barrels per day more than the previous week’s average. Refineries operated at 88.1% of their operable capacity last week. Gasoline production increased last week, averaging 9.9 million barrels per day. Distillate fuel production increased last week, averaging 4.6 million barrels per day. U.S. crude oil imports averaged 6.6 million barrels per day last week, up by 87,000 barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.1 million barrels per day, 18.7% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 989,000 barrels per day, and distillate fuel imports averaged 300,000 barrels per day. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 4.6 million barrels from the previous week. At 418.5 million barrels, U.S. crude oil inventories are about 7% below the five year average for this time of year. Total motor gasoline inventories increased by 0.2 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 increased by 0.4 million barrels last week and are about 12% below the five year average for this time of year. Propane/propylene inventories increased by 2.6 million barrels last week and are about 19% below the five year average for this time of year. Total commercial petroleum inventories increased by 10.9 million barrels last week. Total products supplied over the last four-week period averaged 20.4 million barrels a day, up by 13.7% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 9.2 million barrels a day, up by 8.5% from the same period last year. Distillate fuel product supplied averaged 4.0 million barrels a day over the past four weeks, up by 12.3% from the same period last year. Jet fuel product supplied was up 64.0% compared with the same four-week period last year. The West Texas Intermediate crude oil price was $74.18 per barrel on September 24, 2021, $2.09 above last week’s price and $34.12 more than a year ago. The spot price for conventional gasoline in the New York Harbor was $2.263 per gallon, $0.027 less than last week’s price but $1.007 above a year ago. The spot price for ultra-low sulfur diesel fuel in the New York Harbor was $2.270 per gallon, $0.062 above last week’s price and $1.143 over a year ago. The national average retail regular gasoline price was $3.175 per gallon on September 27, 2021, $0.009 per gallon less than last week’s price but $1.006 over a year ago. The national average retail diesel fuel price was $3.406 per gallon, $0.021 above last week’s price and $1.012 over a year ago.
