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US crude inventories rise 7.1 million barrels as Iran conflict disrupts flows
API data shows gasoline and distillate stocks also gained in week ending September 11.
US crude inventories increased by 7.1 million barrels in the week ending September 11, according to preliminary data from the American Petroleum Institute. Gasoline stocks rose 1.5 million barrels and distillate inventories gained 1.6 million barrels over the same period. The figures are industry estimates ahead of the official Energy Information Administration report.
Cushing stocks decline despite broader inventory build#
Inventories at Cushing, Oklahoma, the delivery hub for WTI crude futures, fell by 246,000 barrels during the reporting period, following a 300,000-barrel decline the previous week. Commercial crude oil inventories excluding the Strategic Petroleum Reserve have declined by 41 million barrels over the past 22 weeks, according to API data. The SPR released 400,000 barrels during the week ending September 11, bringing total SPR holdings to 285 million barrels, 446 million barrels below maximum capacity.
Production and refined product stocks#
US crude oil production for the week ending September 4 reached 13.947 million barrels per day, up from 13.862 million bpd the previous week and 452,000 bpd higher than a year earlier. Gasoline inventories stood 5 percent below the five-year average for this time of year heading into the reporting period, according to the latest EIA data. Distillate inventories were 13 percent below the five-year average before the most recent build.
Price movements and Middle East disruptions#
Brent crude traded at $108.68 per barrel at 4:13 pm ET on Wednesday, up $2.84 on the day and more than $7 per barrel higher week-on-week. WTI crude traded at $107.38 per barrel, up $3.83 on the day and roughly $11 per barrel higher than the previous week. Reuters reported on September 15 that only four commodity vessels crossed the Strait of Hormuz on Monday, compared with a pre-war average of approximately 125 daily transits. The strait normally handles roughly one-fifth of global crude and LNG flows.
Sources2 sources across 2 domains
- oilprice.comoilprice.comAPI estimated crude oil inventories rose 7.14 million barrels in week ending September 11; gasoline inventories rose 1.46 million barrels; distillate inventories gained 1.61 million barrels; Cushing inventory fell 246,000 barrels; US production reached 13.947 million bpd for week ending Sept 4; Bren
- gulfnews.comgulfnews.comAPI said crude inventories increased 7.1 million barrels in week ended Sept. 11; gasoline stocks rose 1.5 million barrels; distillates gained 1.6 million barrels; only four commodity vessels crossed Strait of Hormuz on Monday compared with pre-war average of about 125 daily transits; Hormuz normally
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MENA Trade Monitor is published by Arabian Media Network. Pieces are produced by the Chokepoint Watch with AI-assisted synthesis of the cited sources and automated verification against the network's editorial policy. Every piece carries a desk rather than a reporter. Corrections are recorded on the piece and on the corrections page.
Transits, closures, advisories, war risk premia and rerouting cost for Hormuz, Bab el-Mandeb and Suez. Same day, same shape, always numbers.