U.S. commercial crude oil inventories rose 1.3 million bbls (vs -1.85 million bbls expected) to 443.2 million bbls last week, though levels remain about down -3.4% YoY and -6% below the 5-year seasonal average.

• Distillate inventories added 0.6 million bbls and are now -16% below the 5-year average; gasoline stocks increased 0.8 million bbls (vs -1.76 million bbls) and sit -2% below seasonal norms.
• Crude oil net imports increased 109k b/d to 2.58 million b/d, but the 4-week average is down -14.3% YoY.
• Crude oil refinery inputs increased 89k b/d to 16.5 million b/d, with utilization rising 0.5 ppts to 90.7%. The 4-week average is up 1.1% YoY.
• Total products supplied over the last 4 weeks averaged 19.63 million b/d, down -2.8% YoY. The 4-week averages for gasoline supplied was down -1.0% YoY, distillates down -4.2% YoY, and jet fuel up +4.0% YoY.