US intercepts two Iranian oil tankers
April 23, 2026
The DOE inventory report had crude oil inventories up 1.93 million barrels, gasoline supplies were down 4.57 million barrels and distillates were down 3.43 million barrels. The crude oil build was seen as a bit of a surprise and bearish prices.
Total crude oil inventories now stand at 465.729 and last year they were 443.104 and the 3-year average is 452.625.
Total gasoline inventories are now at 228.374 million barres and last year they were 229.543 and the 3-year average is 225.807.
Total distillates inventories are now at 108.132 million barrels and last year they were 106.878 million and the 3-year average is 111.658.
Propane inventories were up 2.093 million barrels, putting total supplies at 79.990 million barrels. Last year there were 46.630 million barrels, and the 5-year average is 48.895 million barrels. Nearly 80 million barrels as we are right here at the front end of the build season is a lot of propane. Here are the three-highest inventory levels for this time of year from the past 12 years. 2026: 80 million barrels. 2015: 71.86 million barrels. 2014: 66.52 million barrels.
Midwest propane supplies were up 287,000 barrels, putting total Midwest supplies at 15.025 million and last year there were 9.773 million and the 5-year average is 11.019 million.
Gulf Coast propane inventories were up 672,000 barrels putting total Gulf Coast stocks at 56.895 million and last year they were 30.529 and the 5-year average is 30.998 million.
Energy markets are mixed with little new news overnight keeping the market congesting. Iran is objecting to any discussion until the US stops the blockade. With no movement on peace talks it appears the closure of the strait will persist increasing the longer-term impacts.
The US intercepted two Iranian tankers trying to go around the blockade increasing the tensions.