Crude Inventories Drop By 5.8 Million Barrels; WTI Oil Attempts To Rebound After Sell-Off

On June 25, 2025, EIA released its Weekly Petroleum Status Report. The report indicated that crude inventories declined by -5.8 million barrels from the previous week, compared to analyst consensus of -0.75 million. At current levels, crude inventories are about 11% below the five-year average for this time of the year. In the previous week, crude inventories decreased by -11.5 million barrels.

Total motor gasoline inventories declined by -2.1 million barrels from the previous week, compared to analyst forecast of +0.25 million barrels. Distillate fuel inventories decreased by -4.1 million barrels.

U.S. crude oil imports increased by 439,000 bpd from the previous week, averaging 5.9 million bpd. Over the past four weeks, crude oil imports averaged about 6.0 million bpd.

Strategic Petroleum Reserve increased from 402.3 million barrels to 402.5 million barrels as U.S. continued to buy oil for strategic reserves at a modest pace.

Domestic oil production increased from 13.431 million bpd to 13.435 million bpd. From a big picture point of view, domestic oil production stabilized near current levels. It remains to be seen whether domestic producers are ready to boost production after the recent sell-off in the oil markets.

WTI oil settled near the $65.00 level after the release of the report. Traders stay cautious after the strong sell-off, which was triggered by the ceasefire between Israel and Iran.

Brent oil traded below the $68.00 level as traders reacted to the EIA report.

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