The U.S. and the Cushing Hub in northern Oklahoma saw gains in the past week of the amount of crude oil in storage.
The latest report from the U.S. Energy Information Administration showed the Cushing Hub increased its crude oil storage by 500,000 barrels. It held 20.7 million barrels the week of June 27 and the total increased to 21.2 million barrels the week of July 4, 2025.
But Cushing’s total in stored crude oil is 2.3 million barrels down from May 23 when it held 23.5 million barrels. Compared to a year ago, the total in stored crude oil at the Cushing Hub is 12.3 million less.
The U.S. total increased from 419 million barrels the week of June 27 to 426 million barrels the week of July 4. The current storage is 11 million barrels more than the week of June 20. However, the U.S. lags 34.4 million barrels behind the 440.4 million barrels that were in storage the week of May 23 of this year. It is also 19.1 million barrels behind the 445.1 million barrels held in storage the week of July 5, 2024.