For the week ending July 17, 2026, commercial crude oil inventories (excluding the Strategic Petroleum Reserve) increased 2.0 million barrels to 411.7 million barrels, 6% below the previous five-year (2021–2025) average. Gasoline inventories increased 0.8 million barrels, 7% below the five-year average. Distillate inventories increased 1.4 million barrels, 10% below the five-year average. Propane/propylene inventories increased 6.3 million barrels, 34% above the five-year average. Total commercial petroleum inventories increased by 11.6 million barrels for the week.

U.S. refineries operated at 96.1% capacity utilization, processing 17.1 million barrels per day (b/d), down 58,000 b/d from the previous week. Gasoline output averaged 9.7 million b/d, and distillate production increased to 5.3 million b/d.

Crude oil imports increased 117,000 b/d to 5.8 million b/d, although the four-week average of 5.6 million b/d is 11% less than a year ago. Gasoline imports averaged 494,000 b/d; distillate imports averaged 173,000 b/d.

Over the past four weeks, total product demand averaged 20.4 million b/d, down 1% year over year. Gasoline demand increased 1% to 8.9 million b/d, while distillate demand increased 2% to 3.7 million b/d. Jet fuel demand increased 9% year over year. The increase demand for transportation fuels was offset by decreasing demand in residual fuel oil, propane, and other oils.

Principal contributors: EIA Staff

Source: EIA