U.S. commercial crude oil inventories fell -0.6M bbl in the week ending September 19th to 414.8M bbl, about 4% below the 5-yr seasonal average, while total petroleum inventories slipped -0.5M bbl.

• Refinery inputs averaged 16.5M bpd (+52k bpd WoW), with utilization steady at 93% of operable capacity.

• Gasoline production rose to 9.7M bpd, while distillate fuel output increased slightly to 5.0M bpd (+29k bpd WoW).

• Crude oil imports climbed to 6.5M bpd (+803k bpd WoW), though the 4-week average of 6.3M bpd was -0.9% YoY.

• Motor gasoline imports averaged 506k bpd, while distillate fuel imports were 69k bpd.

• Gasoline inventories declined -1.1M bbl and are now 2% below the 5-yr seasonal norm, with both finished gasoline and blending components lower.

• Distillate inventories dropped -1.7M bbl and remain 8% below the 5-yr average, highlighting ongoing tightness.

• Propane/propylene stocks increased +1.0M bbl and stand 12% above the 5-yr seasonal average.

• Total products supplied averaged 20.5M bpd over the past four weeks (+0.9% YoY); gasoline demand was flat YoY, distillates fell -5.7% YoY, and jet fuel demand was down -1.4% YoY.