Commodities Buzz: US crude oil weekly inventories drop marginally

EIA stated that for the week ending September 04, 2026, the commercial crude oil inventories (excluding the Strategic Petroleum Reserve) decreased 0.4 million barrels to 424.1 million barrels, matching the five-year average. Gasoline inventories increased 1.3 million barrels, 5% below the five-year average. Distillate inventories increased 2.1 million barrels, 13% below the five-year average. Total commercial petroleum inventories increased by 6.3 million barrels for the week.

Meanwhile, the refineries processed 17.6 million barrels per day (b/d)—up 91,000 b/d from the previous week—at 97.8% capacity utilization. Gasoline output averaged 9.3 million b/d, and distillate production increased to 5.3 million b/d.

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