AI Summary

U.S. commercial crude oil inventories have seen a decrease in June, according to recent data. The decrease in inventories is likely linked to increased refinery activity, as U.S. refineries processed 17.1 million barrels per day of crude oil for the week ending June 19. This is a slight decrease from the previous week, but still indicates a high level of operational capacity, with refineries operating at 96.1% capacity utilization. The increased processing of crude oil has resulted in higher production levels of gasoline and distillate, with gasoline production averaging 9.5 million barrels per day and distillate production increasing to 5.2 million barrels per day.

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