According to the US Energy Information Administration (EIA), U.S. commercial crude oil inventories increased by 2.0 million barrels to 411.7 million barrels for the week ending July 17, 2026, although they remained 6% below the five-year average. Gasoline and distillate fuel inventories also rose but stayed below their five-year averages, while propane/propylene inventories increased significantly and were well above the average. Overall, total commercial petroleum inventories increased by 11.6 million barrels.
The US Energy Information Administration (EIA) also reported that US refineries operated at 96.1% of capacity, processing 17.1 million barrels of crude oil per day. Crude oil imports increased slightly, while total petroleum demand over the past four weeks averaged 20.4 million barrels per day, down 1% from a year earlier. Demand for gasoline, distillate fuel, and jet fuel increased, but lower demand for residual fuel oil, propane, and other petroleum products offset those gains.
