US crude oil reserves reach 411.7M barrels

U.S. Energy Information Administration data showed that commercial crude oil inventories in the United States increased by two million barrels to reach 411.7 million barrels for the week ending July 17, 2026, down approximately 6% from the five-year average for this time of year. Meanwhile, refinery utilization remained at 96.1%, gasoline production rose to 9.7 million barrels per day, and distillate fuel production increased to 5.3 million barrels per day. Crude oil imports also rose by 117,000 barrels per day, while gasoline and diesel stocks grew modestly, with a notable increase in propane and propylene inventories by 34% above the historical average. Overall, commercial oil inventories increased by 11.6 million barrels during the week, despite a general decline in oil imports compared to last year.

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