U.S. commercial crude oil inventories rose +7.7 million bbls (vs -2.0 million bbls expected) last week to 426.7 million bbls, about -6% below the 5-year seasonal average. This is the largest weekly build since the week of January 31st.

• Total commercial petroleum inventories increased +7.1 million bbls on the week.
• Gasoline inventories fell -2.7 million bbls, while distillate inventories rose +3.6 million bbls but remain -16% below average.
• Crude oil refinery inputs edged down -25k b/d to 16.9 million b/d; utilization dipped to 95.4%.
• Crude oil imports rose +159k b/d to 6.1 million b/d, though the 4-week average is down -11.3% YoY.
• Total products supplied averaged 20.8 million b/d over the past 4 weeks (+1.5% YoY); gasoline -3.0%, distillates -4.1%, jet fuel +8.8%.