2026-01-28 15:33:00
- Prior was +3602K
- Gasoline +223K vs 1009K exp
- Distillates +329K vs -583K exp
- Refinery utilization -2.4% vs -2.0% prior
The private data from late yesterday showed:
- Crude -247K
- Gasoline -415K
- Distillates +2000K
As of late January 2026, the market has focused heavily on a series of significant gasoline supply builds. Recent data shows:
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Inventory Surges: Gasoline stocks jumped by 6.0 million barrels in the week ending January 16, following a massive 9.0 million barrel build the prior week.
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Above-Average Supply: Total gasoline inventories are now roughly 5% above the five-year average for this time of year.
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Seasonal Slack: These builds reflect a typical mid-winter slowdown in driving demand, which recently dipped to 7.83 million barrels per day.
While crude benchmarks have seen some support from a weaker U.S. Dollar, these persistent gasoline builds serve as a bearish anchor, signaling that refined product markets remain heavily oversupplied as we move through the first quarter of 2026. Despite that, the refiners continue to be buying oil. WTI today hit the highs of the year at $63.52.
For background:
The Weekly Petroleum Status Report, published by the U.S. Energy Information Administration (EIA) every Wednesday at 10:30 a.m. ET, serves as the primary pulse of the world’s largest oil consumer. It provides critical data on crude oil inventories, refinery utilization, and product demand. For traders, it is the ultimate “reality check”—a mandatory survey that often triggers immediate price volatility when actual figures deviate from analyst expectations.
The report’s importance lies in its ability to signal shifts in global supply-demand balances. High inventory levels typically exert bearish pressure on prices, while significant “draws” (decreases) suggest robust demand or supply tightening
