Back to today’s briefing

Story perspectives

U.S. Crude Oil Inventories Plunge, Prices Surge

4/23/2025

27 6

Summary

Story summary

U.S. crude oil inventories plummeted by 4.565 million barrels for the week ending April 18, according to the American Petroleum Institute. Gasoline and distillate stocks also fell, pushing Brent crude prices up to $67.26 and WTI to $64.20. Meanwhile, the Strategic Petroleum Reserve remains notably depleted compared to pre-withdrawal levels during the Biden Administration.

1 of 1

Story summary

U.S. crude oil inventories plummeted by 4.565 million barrels for the week ending April 18, according to the American Petroleum Institute. Gasoline and distillate stocks also fell, pushing Brent crude prices up to $67.26 and WTI to $64.20. Meanwhile, the Strategic Petroleum Reserve remains notably depleted compared to pre-withdrawal levels during the Biden Administration.