Crude Oil Inventories Drop: US Data
- crude oil inventories experienced a significant draw, according to the American Petroleum Institute (API).
- Despite recent declines, crude oil inventories are up 3.3 million barrels this year.
- The US crude oil inventory news coincided with a drop in oil prices.
U.S. crude oil inventories took a significant hit, plummeting by 4.277 million barrels for the week ending June 20,according to the API. This substantial decrease,far exceeding analyst expectations,sent ripples through the market,coinciding with a drop in oil prices. West Texas Intermediate (WTI) also saw a decline, trading at $64.52 a barrel. Gasoline inventories, however, rose by 764,000 barrels, contrasting the fall in distillates. The Strategic Petroleum Reserve (SPR) also saw an increase. News Directory 3 provides a comprehensive overview of thes critical shifts. Keep informed with the latest energy updates. Discover what’s next …
US Crude Oil Inventories Decline Amid Price Drop
Updated June 25, 2025
U.S. crude oil inventories experienced a significant draw, according to the American Petroleum Institute (API). Inventories decreased by 4.277 million barrels for the week ending June 20. This follows a ample decrease of 10.133 million barrels the previous week. Analysts had anticipated a smaller draw of only 600,000 barrels.
Despite recent declines, crude oil inventories are up 3.3 million barrels this year. Meanwhile, the Department of Energy (DoE) reported the Strategic Petroleum Reserve (SPR) increased by 200,000 barrels, reaching 402.5 million barrels as of June 13. However, SPR levels remain considerably below pre-Biden administration withdrawal levels.
The US crude oil inventory news coincided with a drop in oil prices. At 1:33 p.m. ET, crude oil was trading down $4.15, or 5.81%, at $67.33. This represents a decrease of more than $7 per barrel compared to the previous week. West Texas Intermediate (WTI) also fell, dropping $3.99, or 5.82%, to $64.52. Last week,WTI traded at roughly $8.50 higher.
Gasoline inventories saw an increase of 764,000 barrels in the week ending June 20, reversing a prior decrease of 20,000 barrels. Data from the Energy Facts Administration (EIA) indicates gasoline inventories are 2% below the five-year average for this period.
Distillate inventories, however, decreased by 1.026 million barrels, contrasting with the previous week’s increase of 318,000 barrels. The EIA reported that distillate inventories were already 17% below the five-year average as of June 13.
Cushing, Oklahoma, a key delivery point for U.S. futures contracts, saw its inventories decrease by 75,000 barrels. This follows a larger decrease of 800,000 barrels the week before.
What’s next
Market watchers will be closely monitoring upcoming EIA data releases to assess the ongoing impact of these inventory shifts on crude oil prices and overall energy market stability.