US Gasoline, Distillate Inventories Continue to Fall as Crude Stocks Hold

The American Petroleum Institute estimated U.S. crude inventories rose by about 1.786 million barrels in the week ending Sept. 18, following a 7.14 million-barrel increase the prior week. Gasoline and distillate stocks both fell—by 2.16 million and 2.164 million barrels respectively—while 400,000 barrels were drawn from the Strategic Petroleum Reserve (SPR) to support commercial supplies.

By AI Newsroom· Reviewed by Pranav, Founder & Editor-in-ChiefPublished about 1 hour agoUpdated about 1 hour ago0 views

Why It Matters

Shifts in commercial inventories and SPR withdrawals affect available fuel supplies and market sentiment, and the recent draws have helped offset what would otherwise be larger commercial stock declines. Inventory levels relative to five-year averages and SPR operational minima are closely watched by traders and policymakers for indications of supply tightness or resilience.

Key Facts

API estimated change in crude inventories (week ending Sept. 18): +1.786 million barrels
API estimated change in crude inventories (week prior): +7.14 million barrels
Commercial crude inventories excluding SPR (last 23 weeks): down 39 million barrels
Year-to-date change in US crude inventories (per API): up nearly 12 million barrels
SPR withdrawal (week ending Sept. 18): 400,000 barrels withdrawn; SPR total 284.6 million barrels remaining

The American Petroleum Institute reported a modest rise in U.S. crude oil stocks of about 1.786 million barrels for the week ending Sept. 18, following a much larger 7.14 million-barrel increase the previous week. API data show commercial crude inventories excluding the Strategic Petroleum Reserve have declined by 39 million barrels over the past 23 weeks, though total U.S. crude stocks remain roughly 12 million barrels higher year-to-date, a statistic API says is influenced by SPR withdrawals. For the reporting week, the SPR supplied another 400,000 barrels to commercial channels, reducing the reserve to 284.6 million barrels. That level sits well below SPR maximum capacity and approaches the generally cited operational minimum band of 250–300 million barrels, a threshold at which the reserve can become more difficult to operate efficiently. Refined product inventories moved lower over the period. Gasoline stocks contracted by about 2.16 million barrels after a 1.46 million-barrel build the prior week; entering the reporting period gasoline was approximately 5% below its five-year seasonal average, according to the Energy Information Administration data cited. Distillate inventories also fell, dropping roughly 2.164 million barrels following a 1.61 million-barrel gain in the week before; distillates were stated to be about 13% below their five-year average heading into this week. At the delivery hub for the WTI futures contract, inventories at Cushing increased by 2.082 million barrels in the latest period after a prior-week drop of 246,000 barrels. Market prices reflected the inventory dynamics: at 3:55 p.m. ET on Wednesday Brent was trading down 2.48% at $97.85 per barrel and WTI was down 3.50% at $89.14 per barrel, with both benchmarks notably lower compared with a week earlier. Overall, API figures point to mixed signals across crude and product stocks, with SPR draws cushioning commercial declines even as gasoline and distillate supplies tightened relative to seasonal norms.