US crude oil inventories drop to lowest level since 1984

Investing.com -- U.S. crude oil inventories including the Strategic Petroleum Reserve decreased by more than 15 million barrels during the week ending June 19, reaching 743.3 million barrels, according to data released by the Energy Information Administration on Wednesday. This marks the lowest inventory level since October 1984.

Crude oil stocks excluding the SPR fell to the lowest level since January 2025, the EIA reported.

Storage levels at the Cushing hub in Oklahoma declined to approximately 19 million barrels last week, representing the lowest amount since October 2014.

Midwest crude oil stocks dropped to their lowest point since November 2014, the data showed.

The EIA also reported that East Coast distillate fuel oil stocks fell to the lowest level since May 2022. East Coast refinery utilization decreased to its lowest point since April 2025.

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