Commercial crude oil inventories in the United States dropped 6.1 million barrels in a single week to 412.1 million barrels, running 7 percent below the five-year average, according to Energy Information Administration weekly petroleum data for the period ending June 19, 2026. The draw came alongside a pullback in refinery activity.

Refineries processed 17.1 million barrels per day of crude during that week, down 81,000 barrels per day from the previous week, and operated at 96.1 percent of capacity. Gasoline output averaged 9.5 million barrels per day. Distillate production, the pool that supplies on-highway diesel, rose to 5.2 million barrels per day.

Product stocks told a mixed story. Gasoline inventories added 2.1 million barrels and remained 5 percent under the five-year average. Distillate inventories gained 3.1 million barrels while sitting 10 percent under that same benchmark, the tightest position among the major transportation fuels. Propane and propylene stocks climbed 2.6 million barrels and stood 35 percent above the five-year average. Across all categories, total commercial petroleum inventories slipped 0.5 million barrels for the week.

Import flows partly offset the draw. Crude oil imports rose 436,000 barrels per day to 5.6 million, though the four-week average of 5.7 million ran 4 percent under the year-earlier level. Gasoline imports averaged 647,000 barrels per day and distillate imports averaged 135,000 barrels per day.

Demand held up. Total product supplied over the prior four weeks averaged 20.5 million barrels per day, a 2 percent year-over-year gain. Distillate implied demand rose 3 percent to 3.6 million barrels per day while gasoline implied demand fell 3 percent to 8.8 million.

Source: U.S. Energy Information Administration - https://www.eia.gov/todayinenergy/detail.php?id=67805