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Breaking NewsJuly 30, 2026 at 12:30 AM

Critical Drop in U.S. Crude Oil Stocks: 7.2 Million Barrels Depleted

724FinanceSavaş Yıldırım

Critical Drop in U.S. Crude Oil Stocks: 7.2 Million Barrels Depleted

U.S. commercial crude oil stocks fell by 7.2 million barrels last week, exceeding market expectations. Excluding the Strategic Petroleum Reserve, crude oil stocks declined by 404.5 million barrels, while total stocks including SPR dropped by 11 million barrels. Stocks at Oklahoma’s Cushing delivery hub fell by 771,000 barrels, reaching their lowest level since 2014 and below the 20 million barrel operational threshold. Oil prices surged by 7.5% for Brent and 7.5% for WTI after the report. Refineries increased processing capacity, while crude oil exports saw a slight rise, though net imports fell. Markets reacted with chip stocks under pressure and declining risk appetite ahead of the Fed decision. Bitcoin remained above $64,000. Albayrak Ready-Mix Concrete began trading on Yıldız Pazar.

Markets are interpreting this critical stock drop as a signal of energy security concerns. Refineries' utilization rates hit 97.2%, indicating strained processing capabilities. The energy market is under stress across the entire supply chain, from U.S. production to exports.