U.S. commercial crude oil inventories fell -3.6 million bbls (vs a 100k build expected) to 432.4 million bbls for the week ending June 6, 2025, down -5.9% YoY and roughly -8% below the 5-year seasonal average.

• Gasoline inventories rose +1.5 million bbls to 229.8 million, about -2% below the 5-year average; distillates increased +1.2 million bbls but remain -17% below average.
• Crude oil refinery inputs rose +228k b/d to 17.2 million b/d; utilization increased to 94.3%.
• Net crude oil imports (4-week average) were 2.49 million b/d, down -13.3% YoY; total product imports net -2.41 million b/d.
• Total products supplied averaged 19.9 million b/d over 4 weeks, up +0.5% YoY; gasoline -2.5%, distillates -5.9%, jet fuel +1.3%.
• WTI crude rose to $65.30/bbl (up +$3.84 WoW, down -$11.23 YoY); retail gasoline averaged $3.11/gal (down -$0.32 YoY), and diesel $3.47/gal (down -$0.19 YoY).