U.S. commercial crude oil inventories fell -3.0 million bbls (vs -1.1 million bbls expected) last week to 423.7 million bbls, about -6% below the 5-year seasonal average.

• Total commercial petroleum inventories rose +2.1 million bbls, driven by a +1.3 million bbl build in propane/propylene.
• Gasoline inventories declined -1.3 million bbls and are now -1% below the 5-year average; distillate inventories fell -0.6 million bbls and remain -16% below average.
• Refinery inputs rose +213k b/d to 17.1 million b/d; utilization climbed to 96.9%.
• Crude oil imports dropped -174k b/d to 6.0 million b/d; the 4-week average is down -9.7% YoY.
• Total products supplied averaged 20.6 million b/d over the past 4 weeks (+1.6% YoY); gasoline -2.2%, distillates -3.8%, jet fuel +3.8%.