WTI Crude oil futures hit a two-week high near $63 per barrel amid supportive equities. Markets are focusing on gasoline demand in the US. WTI Crude is currently up 1% at $63.07 per barrel. The US Energy Information Administration or EIA stated in a latest weekly update that the US crude oil refinery inputs averaged 15.6 million barrels per day during the week ending April 11, 2025, which was 64 thousand barrels per day less than the previous week's average. The US Refineries operated at 86.3% of their operable capacity last week. Gasoline production increased last week, averaging 9.4 million barrels per day. Distillate fuel production increased last week, averaging 4.7 million barrels per day. The US crude oil imports averaged 6.0 million barrels per day last week, down by 189 thousand barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.2 million barrels per day, 5.2% less than the same four-week period last year. U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) increased by 0.5 million barrels from the previous week. At 442.9 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year. However, total products supplied over the last four-week period averaged 19.5 million barrels a day, down by 1.7% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.5 million barrels a day, down by 3.4% from the same period last year.

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