Weekly Crude Oil Review: WTI futures holds above $100 per barrel

WTI Crude oil futures were largely supported though a rise in US gasoline inventories clubbed with selling pressure around six-week highs capped upside for the counter. Latest data showed that for the week ending October 23, 2026, US gasoline stocks rose by 3.9 million barrels to 209.2 million barrels, marking the strongest surge in nine months. US crude oil imports also stayed elevated. Crude oil imports increased 616,000 b/d to 6.4 million b/d, and the four-week average of 6.3 million b/d is 9.3% above the year-ago level. However, the US commercial crude oil inventories (excluding the Strategic Petroleum Reserve) decreased 1.9 million barrels to 410.6 million barrels, 4% below the five-year average. Over the past four weeks, total product supplied averaged 20.8 million b/d, up 0.2% year over year. This reflects a mixed picture for the US oil products scenario. Global cues will be keenly eyed in such a scenario and oil will mostly trade in a choppy manner after recent flurry of gains. WTI Crude oil futures ended around at $103 per barrel, up around 14% for the month.

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