U.S. commercial crude oil inventories rose +2.4M bbl (vs -1.8M bbl) in the week ending August 29, 2025, to 420.7M bbl, about 4% below the 5-yr seasonal average.

• Total commercial petroleum inventories increased +7.1M bbl, with large builds in propane/propylene (+3.2M bbl) and distillates (+1.7M bbl), partly offset by a sharp draw in gasoline (-3.8M bbl).

• Refinery inputs averaged 16.9M bpd (-11k bpd WoW), with utilization at 94.3%; gasoline production fell to 9.9M bpd, while distillate output edged up to 5.3M bpd.

• Crude imports rose +508k bpd to 6.7M bpd, lifting the 4-week average to 6.6M bpd (+4.4% YoY). Gasoline imports averaged 582k bpd, while distillates averaged 96k bpd.

• Over the past four weeks, total products supplied averaged 21.3M bpd (+2.5% YoY), with gasoline demand down -0.8% YoY, distillates up +4.2%, and jet fuel up +4.4%.

• Gasoline inventories remain 2% below the 5-yr average, while distillates are 13% below; propane stocks stand 12% above seasonal norms.