{"id":18694,"date":"2025-07-23T19:23:11","date_gmt":"2025-07-23T19:23:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/18694\/"},"modified":"2025-07-23T19:23:11","modified_gmt":"2025-07-23T19:23:11","slug":"crude-gasoline-draw-props-up-oil-prices","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/18694\/","title":{"rendered":"Crude, Gasoline Draw Props up Oil Prices"},"content":{"rendered":"

\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tBy Tom Kool<\/a> – Jul 23, 2025, 10:04 AM CDT<\/p>\n

\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\"Oil<\/p>\n

U.S. crude oil inventories fell by 3.169 million barrels in the week ending July 18, the Energy Information Administration (EIA) reported on Wednesday, broadly confirming the earlier API estimate<\/a> but with a steeper decline. Analysts had expected a more modest draw, reinforcing signs of strong refining activity and steady demand amid peak summer travel.<\/p>\n

Inventories at the Cushing, Oklahoma delivery hub rose by 455,000 barrels, signaling a slight increase in storage at the critical NYMEX WTI settlement point.<\/p>\n

Gasoline stocks also fell by 1.738 million barrels, reflecting drawdowns in some regions but not all. As OPIS\u2019s Tom Kloza noted on X<\/a>, “Interesting gasoline data from EIA. Demand trailing same week last year by about 490,000 b\/d. Bifurcated inventories \u2013 East Coast saw a solid decrease of 3.3m bbl of gasoline; West Coast saw gasoline stocks climb by 1.1-million barrels.” While national inventories remain near the five-year average, the regional divergence underscores a mixed demand picture. Gasbuddy’s Patrick de Haan on X noted that<\/a> this week likely represents the peak week for US gasoline consumption for the entire year, estimating demand to be between 9.1-9.3mbpd.<\/p>\n

Distillate inventories surged by 2.931 million barrels\u2014contrary to seasonal expectations. This moderate build suggests a front-loaded boost in U.S. refining activity to rebuild low stocks. According to EIA data, as of the previous week, distillate inventories were sitting 21% below the five-year average<\/a>.<\/p>\n

Meanwhile, the U.S. Strategic Petroleum Reserve (SPR) saw another rare decline, falling by 200,000 barrels to 402.5 million barrels. The draw was linked to a loan to ExxonMobil to resolve quality issues tied to Mars-grade crude at the company\u2019s Baton Rouge facility.<\/p>\n

At 10:00 a.m. Central Time, Brent crude<\/a> was trading at $68.22, down $0.37 (-0.54%) on the day, while WTI was down $0.36 (-0.55%) at $64.95 per barrel.<\/p>\n

By Tom Kool for Oilprice.com<\/p>\n

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Back to homepage<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"By Tom Kool – Jul 23, 2025, 10:04 AM CDT U.S. crude oil inventories fell by 3.169 million…\n","protected":false},"author":2,"featured_media":18695,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,15996,15995,16000,15997,3241,15998,9891,15999,16001],"class_list":["post-18694","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-crude","tag-eia","tag-gasoline","tag-inventories","tag-oil","tag-oil-markets","tag-oil-prices","tag-oil-supply","tag-refining"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/18694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=18694"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/18694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/18695"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=18694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=18694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=18694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}