US crude inventories fell by 913,000 barrels to 463.8 million in the week ended April 10, defying expectations for a 200,000 barrel increase.

Stocks at the Cushing Oklahoma hub dropped by 1.7 million barrels, marking the largest decline since January 2025.

Refinery activity softened, with crude runs down by 208,000 barrels per day and utilization rates falling 2.4 percentage points to 89.6%.

Gasoline inventories declined by 6.3 million barrels to 232.9 million, exceeding forecasts for a smaller 2.1-million-draw.

Distillate stocks, including diesel and heating oil, fell by 3.1 million barrels to 111.6 million, also surpassing expectations for a 2.4 million-barrel drop.

Meanwhile, net US crude imports decreased by 2.11 million barrels per day, the most since September 2025.
Source: Trading Economics