U.S. Oil Industry Braces For More Pain As Inventories Continue to Grow

U.S. Oil Industry Braces For More Pain As Inventories Continue to Grow | OilPrice.com

`;
document.write(write_html);
}

Breaking News:

ByJulianne Geiger– Feb 19, 2025, 4:17 PM CST
Storage

image

The American Petroleum Institute (API) estimated that crude oil inventories in the United rose by 3.34 million barrels for the week ending February 14. Analysts had expected a 2.2-million-barrel build.

This adds to the almost 18 million barrels of builds in U.S. crude oil inventories during the last four weeks, including a 9 million barrel build in the week prior.

‘;
document.write(write_html);
}

Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by 0.2 million barrels as of February 14. Inventory levels in the SPR are still hundreds of millions shy of the levels in inventory prior to the SPR withdrawal that took place under the Biden Administration.  

At 3:04 pm ET, Brent crude was trading up $0.21 (+0.28%) on the day at $76.05—a $0.90 per barrel dip from this time last week. The U.S. benchmark WTI was trading up on the day by $0.39 (+0.54%) at $72.24—a roughly $1 per barrel decrease from last week’s level.  

Gasoline inventories rose in the week ending February 7 by 2.83 million barrels, offsetting the previous week’s 2.507-million-barrel decrease. As of last week, gasoline inventories are now 1% below the five-year average for this time of year, according to the latest EIA data.

Distillate inventories saw another week of decline, dropping 2.69 million barrels in the latest week. In the week prior, distillate inventories fell 590,000 barrels. Distillate inventories were already about 11% below the five-year average as of the week ending February 7, the latest EIA data shows.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com

Join the discussion | Back to homepage

`;
document.write(write_html);
}



GOOGLE+
LINKEDIN
REDDIT
PRINT

`;
document.write(write_html);
}

EXXON Mobil
-0.35

Open57.81
Trading Vol.6.96M
Previous Vol.241.7B

BUY 57.15

Sell 57.00

 

  • Related Posts

    Ukraine Strike Halts Oil Processing at Novokuibyshevsk Refinery

    Primary oil processing at Rosneft’s Novokuibyshevsk refinery has been halted. The outage, which began on April 18 after a Ukrainian drone strike, encompasses the first stage of crude processing at…

    Norway Pumps Near Capacity as Spare Output Buffer Disappears

    Norway kept petroleum production near peak levels in March 2026—but the more important signal for oil markets is that the country is now operating with virtually no spare capacity. At…

    Have You Seen?

    Ukraine Strike Halts Oil Processing at Novokuibyshevsk Refinery

    • April 22, 2026
    Ukraine Strike Halts Oil Processing at Novokuibyshevsk Refinery

    Oilfield Service Firm Halliburton is Discussing Commercial Terms With Customers for Venezuela Operations

    • April 22, 2026
    Oilfield Service Firm Halliburton is Discussing Commercial Terms With Customers for Venezuela Operations

    North Dakota Crude Output to Rise as Operators Eye High Oil Prices

    • April 22, 2026
    North Dakota Crude Output to Rise as Operators Eye High Oil Prices

    China’s CATL Debuts EV Battery With Speedy Six-Minute Recharge and a 1,000-km Range

    • April 22, 2026
    China’s CATL Debuts EV Battery With Speedy Six-Minute Recharge and a 1,000-km Range

    Norway Pumps Near Capacity as Spare Output Buffer Disappears

    • April 21, 2026
    Norway Pumps Near Capacity as Spare Output Buffer Disappears

    Sanctioned Iranian VLCC Crosses Hormuz Line Hours Before Ceasefire Deadline

    • April 21, 2026
    Sanctioned Iranian VLCC Crosses Hormuz Line Hours Before Ceasefire Deadline

    Activists Sue Shell Over Emissions, Again

    • April 21, 2026
    Activists Sue Shell Over Emissions, Again

    Long-Haul Flight Fares Soar as Iran War Hits European Aviation Hard

    • April 21, 2026
    Long-Haul Flight Fares Soar as Iran War Hits European Aviation Hard

    Iran, US Talks Hit Impasse as Truce Nears Expiry

    • April 21, 2026
    Iran, US Talks Hit Impasse as Truce Nears Expiry

    US Crude and Fuel Exports Surge to Record Highs, But it’s Not Enough: Russell

    • April 21, 2026
    US Crude and Fuel Exports Surge to Record Highs, But it’s Not Enough: Russell