The drawdown exceeded analyst expectations of a 3.1 million barrel decline, reflecting a tightening market. While national production held steady at 13.8 million barrels per day, refineries pushed their capacity utilization to 96.6%, processing an additional 85,000 barrels daily. This aggressive pace of refining effectively cleared surplus crude, even as imports dipped by 291,000 barrels per day.

Contrasting trends emerged across fuel categories. Gasoline inventories saw a significant drop of 2.3 million barrels to 214 million, bolstered by a demand surge to 9.1 million barrels per day. Conversely, distillate fuel stocks unexpectedly climbed by 2.5 million barrels to 108.6 million, defying forecasts of a minor decline. Meanwhile, the Strategic Petroleum Reserve continued to shed volume, falling by 5.5 million barrels as emergency releases persisted. Regional storage at Cushing, Oklahoma, recorded a modest buildup, adding 709,000 barrels to reach 19.7 million.