Oil Prices Fall: Gasoline, Distillate Inventories Rise
- crude oil inventories experienced a slight dip this week, according to the American Petroleum Institute (API).
- Despite the recent decline, crude oil inventories are up nearly 18 million barrels since the start of the year, according to calculations based on API data.The Department of...
- The API also reported increases in gasoline and distillate inventories.
U.S. crude oil inventories dipped slightly, according to API estimates, but gasoline and distillate stockpiles are up.The API reported a 370,000-barrel decrease in crude oil for the week ending june 6, a surprise against the expected rise. Gasoline inventories jumped by nearly 3 million barrels, and distillates climbed by 3.712 million barrels, signaling shifting dynamics in the energy market. Despite the drop, crude oil inventories are up nearly 18 million barrels this year. The Strategic Petroleum Reserve also saw an increase. News Directory 3 is following the story closely.Will these inventory shifts impact prices? Discover what’s next when the EIA releases its data.
U.S. Crude Oil Inventories See Slight Decline
Updated june 11, 2025
U.S. crude oil inventories experienced a slight dip this week, according to the American Petroleum Institute (API). The API estimated a decrease of 370,000 barrels for the week ending June 6. This follows a prior week’s decrease of 3.3 million barrels. Analysts had anticipated an increase of 700,000 barrels.
Despite the recent decline, crude oil inventories are up nearly 18 million barrels since the start of the year, according to calculations based on API data.The Department of Energy (DoE) reported that the Strategic Petroleum Reserve (SPR) increased by 300,000 barrels, reaching 402.1 million barrels as of June 6. SPR levels remain significantly below pre-Biden Administration withdrawal levels.
The API also reported increases in gasoline and distillate inventories. Gasoline stockpiles rose sharply by 2.969 million barrels, following a 4.7 million barrel increase the previous week. Distillate inventories also saw a ample increase of 3.712 million barrels, after a rise of 760,000 barrels the week before. despite these increases, gasoline inventories remain 1% below the five-year average, while distillate inventories are 16% below the average.
Inventories at cushing, Oklahoma, a key delivery point for U.S. futures contracts, decreased by 728,000 barrels during the week.
What’s next
The market will be closely watching the next Energy Details Administration (EIA) report to confirm these trends in crude oil, gasoline, and distillate inventories. These figures will provide further insight into the balance of supply and demand and potentially influence oil prices in the coming weeks.