Crude oil inventories in the U.S. moved up during the week ended February 17, official data showed Thursday.
The U.S. Energy Information Administration in its weekly crude oil report said U.S. commercial crude oil inventories increased by 1.60 million barrels to 340.70 million barrels last week, and are in the upper limit of the average range for this time of year.
The week before, crude oil inventories decreased by 200,000 barrels to 339.10 million barrels.
Meanwhile, total motor gasoline inventories moved down by 600,000 barrels last week, after increasing 400,000 barrels in the prior week, but are in the upper limit of the average range.
Analysts were expecting crude oil inventories to gain 1.35 million barrels and gasoline stocks to rise by 250,000 barrels last week.
Late Wednesday, data from the API revealed that U.S. crude oil inventories increased 3.55 million barrels and gasoline stocks rose 314,000 barrels in the week ended February 17.
Oil refinery inputs averaged just under 14.90 million barrels per day during the week, which were 170,000 barrels per day above the previous week's average as refineries operated at 85.50 percent of their operable capacity.
Meantime, U.S. crude oil imports during the week averaged nearly 9.10 million barrels per day last week, up by 335,000 barrels per day from the previous week, official data revealed. Over the last four weeks, imports have averaged 8.80 million barrels per day, which were 211,000 barrels per day above the same four-week period last year.
Light Sweet Crude Oil (WTI) futures for April delivery are easing $0.23 to $106.05 a barrel.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.