By Julianne Geiger - Aug 05, 2026, 9:37 AM CDT
Crude oil inventories in the United States saw an increase of 2.5 million barrels during the week ending July 31, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 407 million barrels, according to government data, which are now 6% below the five-year average for this time of year.The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories had risen by 2.69 million barrels in the period.Crude futures crept up in early morning trade after a major selloff Tuesday inspired by renewed talks of a potential peace deal. At 9:51 a.m. in New York, Brent futures were trading at $79.62 per barrel—up $0.26 (+0.33%) on the day but down roughly $10 per barrel from this same time last week. WTI was trading slightly down on the day, by $0.42 per barrel (-0.55%) on Wednesday morning at $75.35, down $9 per barrel since this time last week.For total motor gasoline, the EIA reported that inventories fell 1.6 million barrels, after increasing slightly in the week prior. The most recent figures showed that average daily gasoline production decreased to 9.6 million barrels. For middle distillates, inventories decreased by 3.5 million barrels, with production decreasing to an average of 5.2 million barrels daily. Distillate inventories are now 12% below the five-year average.Total products supplied—a proxy for U.S. oil demand—averaged 20.4 million barrels per day over the last four weeks, down 0.9% compared to the same period last year. Gasoline demand averaged 9.0 million barrels per day over the last four weeks, while the distillate four-week average supplied averaged 3.6 million barrels—up 1.8% year over year.By Julianne Geiger for Oilprice.comMore Top Reads From Oilprice.comUkraine’s Drone Campaign Drives Russian Oil Refining to 24-Year LowAustralian Regulator Wants Tougher Pollution Rules for Darwin LNG PlantsIndian Oil Subsidiary CPCL Plans 280,000 Bpd Manali Refinery
