Crude Oil Stocks Fall Nearly Seven Million Barrels
The U.S. government reported a nearly 7 million-barrel drop in crude oil stocks nationwide, marking a notable weekly decline in reserves. The U.S. Energy Information Administration (EIA) said the amount of crude oil in storage fell 6.8 million barrels over the past week — declining from 422.8 million barrels as of October 17 to 416 million barrels by October 24, 2025.
Analysts tracking energy production say this decline indicates stronger refinery throughput and ongoing export activity. With refineries operating at high seasonal capacity, U.S. storage levels often tighten as more barrels move through refining systems or to export terminals. The current drawdown suggests steady energy demand and global shipping movements that continue to shape crude supply balances.
Weekly EIA data remains one of the most closely watched metrics in the energy industry, as even small fluctuations influence WTI crude oil prices and investment confidence across the oil and gas sector.
Cushing Hub Reports Increase in Oil Storage
While national stockpiles fell, Oklahoma’s Cushing Hub recorded a clear rise in crude held in storage. The EIA reported the Cushing storage hub increased from 21.2 million barrels on October 17 to 22.6 million barrels by October 24 — a gain of 1.4 million barrels.
The Cushing Hub, located in northern Oklahoma, plays a key role in national oil pricing because it serves as the delivery point for West Texas Intermediate (WTI) contracts. An increase in inventory at the hub often signals that crude is either being redirected through Oklahoma pipelines or held in storage before shipment to Gulf Coast refineries.
Energy analysts note that Cushing movements often run opposite of national storage patterns due to regional logistics, maintenance schedules, or shipping adjustments.
Gasoline Supplies Show Decline
The EIA also reported a 6 million-barrel decline in U.S. gasoline supplies. Levels fell from 216.7 million barrels during the week of October 17 to 210.7 million barrels a week later.
That drop often reflects increased consumer demand and seasonal refinery maintenance that temporarily limits output. As colder weather approaches, the transition in fuel blends and regional supply adjustments can lead to short-term dips in gasoline inventories.