U.S. crude oil inventories fell last week as exports picked up from the week before and refineries raised their capacity use, according to data released Wednesday by the U.S. Energy Information Administration.

Commercial crude oil stocks excluding the Strategic Petroleum Reserve fell by 1.7 million barrels to 409.7 million barrels in the week ended July 10, and were about 6% below the five-year average for the time of year, the EIA said. Crude stocks were expected to have declined by 900,000 barrels, according to a Wall Street Journal survey of analysts.

Oil stored in the SPR was down by 3 million barrels at 316.5 million barrels, the smallest weekly withdrawal since the beginning of April. Oil stocks at Cushing, Okla., the Nymex delivery hub, rose by 430,000 barrels to 20 million barrels.

U.S. crude oil production was steady near 13.9 million barrels a day. Crude oil imports edged up by 60,000 barrels a day to 5.7 million barrels a day, and exports increased by 459,000 barrels a day to 3.7 million barrels a day.

Refineries ran at 96.2% of capacity, up from 95.8% the previous week, with crude input to refineries rising by 99,000 barrels a day to 17.1 million barrels a day. Refinery runs were seen edging up to 95.9% in the Journal survey.

Gasoline inventories fell by 1.5 million barrels to 210.5 million barrels, and were 8% below the five-year average, the EIA said. Gasoline demand was practically unchanged at 8.8 million barrels a day. Gasoline stocks were expected to be down by 300,000 barrels.

Distillate fuel stocks rose by 4.6 million barrels to 108.2 million barrels against expectations of a 100,000 barrel decline, and were 11% below the five-year average for the time of year.

 
Change in U.S. oil inventories for the week ended July 10: 
 
                   Crude       Gasoline      Distillates        Refinery Use 
EIA data:          -1.7          -1.5            4.6                 0.4 
Forecast:          -0.9          -0.3           -0.1                 0.1 
 

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

Write to Anthony Harrup at anthony.harrup@wsj.com

(END) Dow Jones Newswires

July 15, 2026 11:08 ET (15:08 GMT)

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