U.S. crude oil inventories rose by 2.8 million barrels to 437.6 million barrels for the week ending June 13, surprising analysts who had expected a 1.2 million barrel draw. The build was driven by higher crude imports (up 420,000 bpd week-over-week) and a decline in refinery runs.
Refinery utilization slipped to 92.5% from 94.1% the prior week, as several Gulf Coast refineries reduced runs for planned maintenance. Total crude inputs fell by 285,000 bpd to 16.7 million bpd, reducing crude demand and contributing to the inventory build.
Gasoline inventories declined by 1.5 million barrels, partially offsetting the crude build. Implied gasoline demand edged up to 9.1 million bpd from 8.9 million bpd, signaling that summer driving demand is picking up but remains below the 2025 seasonal average of 9.3 million bpd.
Distillate inventories rose by 800,000 barrels, while Cushing, Oklahoma, storage hub levels increased by 600,000 barrels. The broader inventory picture suggests a moderately supplied market, with total petroleum inventories 3% above the five-year average.
The crude build suggests near-term pricing pressure on WTI. For procurement teams managing fuel costs, the below-trend gasoline demand signals consumer price sensitivity, which could keep a lid on crude price rallies. Consider using any OPEC+ news-driven spike above $78 to layer in H2 hedges rather than chasing the market up.