{"id":435256,"date":"2026-01-28T18:18:16","date_gmt":"2026-01-28T18:18:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/435256\/"},"modified":"2026-01-28T18:18:16","modified_gmt":"2026-01-28T18:18:16","slug":"oil-prices-continue-to-rise-as-us-crude-oil-inventories-drop","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/435256\/","title":{"rendered":"Oil Prices Continue to Rise As US Crude Oil Inventories Drop"},"content":{"rendered":"

\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tBy Julianne Geiger<\/a> – Jan 28, 2026, 9:38 AM CST<\/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\"Cushing\"<\/p>\n

Crude oil inventories in the United States decreased by 2.3 million barrels during the week ending January 24, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The decrease brings commercial stockpiles to 423.8 million barrels according to government data, which is 3% below the five-year average for this time of year.<\/p>\n

The EIA\u2019s data release follows API\u2019s figures that were released a day earlier, which suggested that crude oil inventories fell by 247,000 barrels<\/a>.<\/p>\n

Crude prices were trading up on Wednesday morning with geopolitical risk premiums continuing to deteriorate as US supply realizes actual winter storm-related disruptions. At 8:45 a.m. in New York,\u00a0Brent<\/a>\u00a0was trading at $68.11 per barrel\u2014up $0.54 (+0.80%) on the day and up more than $3 per barrel week over week. WTI<\/a> was also trading up, by $0.61 per barrel (+0.98%) in early trade at $63 per barrel.<\/p>\n

<\/a><\/p>\n

For total motor gasoline, the EIA reported that inventories had increased by 200,000 barrels after gaining 6 million barrels in the week prior. The most recent figures showed average daily gasoline production increased to 9.6 million barrels. For middle distillates, inventories increased by\u00a0 300,000 barrels with production decreasing by 268,000 barrels daily to an average of 4.8 million barrels daily.<\/p>\n

Total products supplied\u2014a proxy for U.S. oil demand\u2014rose to 20.3 million barrels per day over the last four weeks, down 0.1% compared to the same period last year. Gasoline demand averaged 8.3 million barrels per day over the last four weeks, while the distillate four-week average supplied averaged 3.7 million barrels\u2014down 4.8 percent year over year.<\/p>\n

By Julianne Geiger for Oilprice.com<\/p>\n

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