US Crude Oil Inventory Report (Week ended June 5, 2026)
The U.S. Energy Information Administration (EIA) released data showing that total crude oil stockpiles declined by 7.2 million barrels, bringing the inventory level to 426.5 million barrels. This reduction was larger than the market expectation of a 4 million‑barrel draw, based on an analyst poll.
At the Cushing, Oklahoma delivery hub, crude inventories fell by 801,000 barrels during the same week. Refinery activity increased, with crude runs up by 81,000 barrels per day and refinery utilization rising 0.6 percentage points to reach 95.3%.
Gasoline inventories rose by 0.2 million barrels, ending the week at 215.1 million barrels, contrary to analysts’ forecast of a 0.5 million‑barrel decline. Distillate inventories, which include diesel and heating oil, decreased by 0.2 million barrels to 102.1 million barrels, a smaller drop than the anticipated 0.5 million‑barrel reduction.
Net U.S. crude imports increased by 525,000 barrels per day over the reporting period.
Price movements accompanying the inventory report showed WTI crude futures (CL) up 2.06%, NYMEX fuel oil futures (NYF) up 1.79%, and gasoline futures (GPR) up 2.63%.