U.S. commercial crude oil inventories fell -6.9M bbl (vs -0.2M bbl expected) in the week ending Oct. 24, 2025, to 416.0M bbl, about 6% below the 5-yr seasonal average, reflecting broad draws across major petroleum categories.

• Refinery inputs averaged 15.2M bpd, down -511k bpd WoW, with utilization steady at 88.6% of operable capacity.

• Gasoline production decreased to 9.6M bpd, while distillate fuel production fell -134k bpd to 4.5M bpd, both showing slower refinery output.

• Crude oil imports declined sharply by -867k bpd to 5.1M bpd; the 4-week average of 5.7M bpd was -5.3% YoY, indicating softer import demand.

• Gasoline inventories dropped -5.9M bbl and remain about 3% below the 5-yr average; both finished gasoline and blending components fell on the week.

• Distillate fuel inventories decreased -3.4M bbl and are now 8% below the 5-yr norm, highlighting continued tightness in middle distillates.

• Propane/propylene inventories rose +2.5M bbl and are 14% above the 5-yr average, showing ample supply in that segment.

• Total commercial petroleum inventories fell -15.9M bbl overall, marking a broad draw across categories.

• Total products supplied averaged 20.8M bpd over the past four weeks (-0.9% YoY), with gasoline down -4.2% YoY, distillates down -1.5% YoY, and jet fuel up +7.6% YoY.