US Crude Inventories Fall as Market Demand Holds Steady

The government report confirms a trend previously signaled by the American Petroleum Institute, which estimated a draw of 2.09 million barrels earlier this week. Following the release, energy markets responded with modest gains. Brent crude climbed $1.21 to reach $101.79 per barrel, while West Texas Intermediate rose $0.48 to settle at $89.92. Despite these daily gains, both benchmarks remain slightly lower than their price points from one week ago.

Refinery output and consumer demand show a mixed picture across fuel sectors. Gasoline inventories grew by 400,000 barrels as daily production hit 9.3 million barrels. Conversely, middle distillate stocks held firm, leaving them 12% below the five-year average. Overall demand, measured by total products supplied, averaged 21.1 million barrels per day over the last four weeks—an increase of 0.7% compared to the same period last year. While gasoline consumption remains stable, demand for distillates has slipped by 1.6% year over year.