U.S. crude oil inventories rose by 95,000 barrels for the week ended August 21, reaching 428.9 million barrels, according to data from the Energy Information Administration (EIA). The increase contrasted with analyst expectations, which had forecast a 597,000-barrel gain.
Crude stocks at Cushing, Oklahoma—the delivery hub for West Texas Intermediate—grew by 1.2 million barrels during the period. Refinery operations showed a marginal decline, with crude runs falling by 2,000 barrels per day, while utilization rates edged up 0.2 percentage points to 97.4%, remaining near multi-year highs.
Fuel inventories declined sharply. Gasoline stockpiles dropped by 2.5 million barrels to 206.8 million barrels, exceeding analyst forecasts that had projected a 0.7 million-barrel decrease. Distillate inventories, which include diesel and heating oil, fell by 2.2 million barrels to 103.4 million barrels, outpacing the 1.6 million-barrel decline anticipated by analysts.
The mixed data reflects ongoing adjustments in U.S. oil markets, with crude stockpiles rising despite strong refining activity and declining fuel inventories. The EIA report, published Wednesday, provides further insight into supply-demand dynamics ahead of the peak summer driving season.
