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According to the latest Energy Information Administration (EIA) report, US commercial crude oil inventories dropped by 6.4 million barrels, reaching 453.6 million barrels. This marks a 1.4% decrease from the previous week and a 1.6% decline from a year ago.

At 453.6 million barrels, US crude oil inventories are approximately 3% below the five-year average for this time of year. Crude oil imports edged up to 6.5 million barrels per day (bpd), a slight increase from the prior week.

Total motor gasoline inventories saw a modest decline of 0.6 million barrels or 0.3%, while motor gasoline imports averaged at 780,000 bpd.

Meanwhile, propane/propylene stocks rose by 1.0 million barrels to 56.7 million barrels, showing a 1.8% spike from the previous week and a 14% surge above the five-year average for this period.

Overall, the data suggests a nuanced landscape in the energy market, with notable shifts in crude oil and propane inventories.