EIA: US crude stocks rose by unexpected margins as imports surged

US commercial crude inventories rose by 0.2 million barrels for the week ending 18 April 2025, diverging from analysts’ expectations of a 770,000-barrel draw. According to Reuters, the modest build was largely attributed to preparatory measures ahead of the summer demand season.

The increase was driven primarily by a sharp rise in net imports, which climbed by 1.14 million barrels per day to reach 2 million barrels per day—the largest weekly gain since November 2024.

Concurrently, refinery activity showed renewed momentum. Utilization rates rose by 1.8% to 88.1%, marking the highest level since early January. Refinery inputs increased by 326,000 barrels per day, averaging 15.9 million barrels per day.

Meanwhile demand-side indicators pointed to improved consumption. Refined product inventories declined sharply, led by a 4.5-million-barrel drop in total motor gasoline stocks, which now sit roughly 3% below the five-year average. The draw was concentrated in blending components, while conventional gasoline inventories edged slightly higher.

Domestic crude output slipped marginally, down by 2,000 barrels to 13.46 million barrels per day.

Written by: Derek Yong