U.S. crude oil markets reflected a complex supply-demand balance for the week ending June 26, 2026. WTI crude oil opened June at $99.00/MT before sliding to $84.00/MT by month-end — a sharp 15.2% monthly decline — with the most recent weekly reference settling further at $69.72/MT, underscoring accelerating bearish momentum. Refineries operated at 96.6% capacity, processing 17.2 million barrels per day, signalling robust feedstock demand. However, crude oil imports fell sharply by 291,000 barrels per day to 5.3 million barrels per day, running 10.9% below year-ago levels. Commercial inventories drew down by 3.8 million barrels to 408.4 million barrels — 7% below the five-year seasonal average — while retail gasoline averaged $3.831/gallon and diesel settled at $4.668/gallon. Overall, strong refinery activity was offset by declining imports and persistent bearish price pressure heading into July 2026.
