US crude oil stocks grew 244k bbls last week, above expectations of a -700k bbls decline. Total stocks are down -2.3% YoY, down from a 1.8% YoY increase the week before.

• The SPR added 500k bbls last week, and its level is up 8.7% YoY.
• Gas stocks fell -4.5 mil bbls, a larger than expected decline, and are up 1.2% YoY (prev 2.9% YoY).
• Domestic production was basically unchanged at 13.46 mil b/d, and the 4-week average is up 3.0% YoY.
• Net imports grew 1.13 mil b/d to just 2.04 mil b/d, and the 4-week average is lower by -9.7% YoY.
• Refinery inputs increased 326k b/d to 15.89 mil b/d, but the 4-week average is down -1.3% YoY.
• Total product supplied jumped 1.75 mil b/d to 20.88 mil b/d, and the 4-week average is now above a year ago by 0.4% (prev -1.7% YoY)