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

    China’s Independent Refiners Boost Crude Buying After New Import Quotas

    Helped by the newly-issued crude import quotas, China’s independent refiners are buying sanctioned Iranian crude again and raising their processing rates, making room for Iran’s oil to move out of…

    Heavy Crude Prices Could Surge as U.S.-Venezuela Tensions Escalate

    A loss of Venezuelan oil production in case of a U.S. military intervention will materially impact global benchmark prices as the market will have to replace Venezuela’s heavy crude—the bulk…

    Have You Seen?

    China’s Independent Refiners Boost Crude Buying After New Import Quotas

    • December 6, 2025
    China’s Independent Refiners Boost Crude Buying After New Import Quotas

    Greenergy Introduces Shagara WaterHub, a Solar-Powered Water and Energy Solution for Remote Communities

    • December 6, 2025
    Greenergy Introduces Shagara WaterHub, a Solar-Powered Water and Energy Solution for Remote Communities

    Japan Solar Auction Signals Market Shift as Awarded Capacity Falls to 75.3 MW Amid Rising Development Barriers

    • December 6, 2025
    Japan Solar Auction Signals Market Shift as Awarded Capacity Falls to 75.3 MW Amid Rising Development Barriers

    Angola Inaugurates Sub-Saharan Africa’s Largest Off-Grid Solar Park, Bringing Power To 130,000 Residents

    • December 6, 2025
    Angola Inaugurates Sub-Saharan Africa’s Largest Off-Grid Solar Park, Bringing Power To 130,000 Residents

    Global Green Economy Surges Past $5 Trillion, Poised To Exceed $7 Trillion By 2030—Report

    • December 6, 2025
    Global Green Economy Surges Past $5 Trillion, Poised To Exceed $7 Trillion By 2030—Report

    Scatec Commences Commercial Operations of 273 MW Grootfontein Solar Plant in South Africa

    • December 6, 2025
    Scatec Commences Commercial Operations of 273 MW Grootfontein Solar Plant in South Africa

    REIL Issues 5 MW Rooftop Solar Rate Contract For Jammu & Kashmir Government Buildings

    • December 6, 2025
    REIL Issues 5 MW Rooftop Solar Rate Contract For Jammu & Kashmir Government Buildings

    REIL Invites Bids For 10 MW Rooftop Solar Project In Jodhpur With 25-Year O&M Contract

    • December 6, 2025
    REIL Invites Bids For 10 MW Rooftop Solar Project In Jodhpur With 25-Year O&M Contract

    TNGECL Floats Tender For 20 MWp Rooftop Solar Project On Government Buildings Across Tamil Nadu

    • December 6, 2025
    TNGECL Floats Tender For 20 MWp Rooftop Solar Project On Government Buildings Across Tamil Nadu

    Uzbekistan Commissions $11 Billion in New Energy Infrastructure, Expands Renewable Capacity

    • December 6, 2025
    Uzbekistan Commissions $11 Billion in New Energy Infrastructure, Expands Renewable Capacity