US refiners operated at a robust 96.1% of capacity during the week ending June 19, processing 17.1 million barrels of crude oil per day. Commercial crude inventories fell by 6.1 million barrels to 412.1 million barrels, remaining 7% below the five-year average, while gasoline and distillate inventories increased, reports the US Energy Information Administration.

Crude oil imports rose to 5.6 million barrels per day, though they remain below year-ago levels. Demand trends were mixed, with overall petroleum consumption up 2% from a year earlier, distillate and jet fuel demand increasing, but gasoline demand declining 3%. The report points to a tight crude market despite strong refinery activity and growing fuel inventories.

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