Fuel inventories fall as global supply questions persist
October 1, 2026
The DOE inventory report showed crude oil inventories down 920,000 barrels, gasoline supplies down 1.68 million barrels and distillate inventories down 2.25 million barrels.
Total U.S. crude oil inventories are now 427.320 million barrels, compared with 416.546 million a year ago and a three-year average of 415.847 million.
Total gasoline inventories stand at 204.362 million barrels, compared with 220.694 million last year and a three-year average of 220.960 million.
Total distillate inventories are now 105.180 million barrels, compared with 123.577 million last year and a three-year average of 121.336 million.
Propane inventories increased 1.777 million barrels, bringing total stocks to 109.647 million barrels. Last year, inventories stood at 103.376 million barrels, while the five-year average is 91.958 million. Ready-for-sale inventories increased 495,000 barrels and now account for 66.5% of total propane inventories.
Midwest propane supplies fell 448,000 barrels, bringing total stocks to 25.642 million barrels. That compares with 27.323 million last year and a five-year average of 26.358 million.
Gulf Coast propane supplies increased 1.990 million barrels, bringing total stocks to 70.424 million barrels. Last year, inventories stood at 61.441 million barrels, while the five-year average is 51.584 million.
Energy markets are slightly higher so far this morning following news that China has suspended refined fuel exports. The U.S. has been considering a diesel export ban, but members of the Trump administration and industry leaders have said such a move would be counterproductive.
Goldman Sachs estimates that when all exports from Persian Gulf countries are considered, including those that moved through the Strait of Hormuz with transponders turned off, crude exports averaged 23.3 million barrels per day last week. That would be comparable to pre-war export levels. If accurate, the estimate would support the view that Iran is losing control of traffic through the Strait of Hormuz.