EIA Petroleum Status Report - Apr 2

[dan_s]

Summary of Weekly Petroleum Data for the week ending March 28, 2025

U.S. crude oil refinery inputs averaged 15.6 million barrels per day during the week ending March 28, 2025, which was 192 thousand barrels per day less than the previous week’s average.
Refineries operated at 86.0% of their operable capacity last week.
Gasoline production increased last week, averaging 9.3 million barrels per day.
Distillate fuel production increased last week, averaging 4.7 million barrels per day.

U.S. crude oil imports averaged 6.5 million barrels per day last week, increased by 271 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 5.9 million barrels per day, 6.3% less than the same four-week period last year.
Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 748 thousand barrels per day, and distillate fuel imports averaged 149 thousand barrels per day.

Inventories:
> U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 6.2 million barrels from the previous week. At 439.8 million barrels, U.S. crude oil inventories are about 4% below the five year average for this time of year.
> Total motor gasoline inventories decreased by 1.6 million barrels from last week and are 2% above the five year average for this time of year. Finished gasoline inventories increased and blending components inventories decreased last week.
> Distillate fuel inventories increased by 0.3 million barrels last week and are about 6% below the five year average for this time of year.
> Propane/propylene inventories increased by 1.0 million barrels from last week and are 8% below the five year average for this time of year. < I am bullish on NGL prices because very cold weather in January & February plus the colder than normal weather the central U.S. will see April 5-15 has drained U.S. propane inventories, which must be rebuilt. Plus, higher natural gas prices do have a impact on NGL prices.
>> Total commercial petroleum inventories increased by 5.4 million barrels last week.

Total products supplied over the last four-week period averaged 20.1 million barrels a day, down y 1.2% from the same period last year.
Over the past four weeks, motor gasoline product supplied averaged 8.8 million barrels a day, down by 1.9% from the same period last year.
Distillate fuel product supplied averaged 3.8 million barrels a day over the past four weeks, up by 3.7% from the same period last year.
Jet fuel product supplied was up 4.2% compared with the same four-week period last year.

[dan_s]

Trading Economics:
"Propane prices increased $0.14 USD/GAL or 18.30% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Propane reached an all time high of $1.67 in February of 2014."

Go here https://tradingeconomics.com/commodity/propane and look at the 5-year chart to see how the Bidding War for natural gas in Q3 2022 impacted the propane price.