Crude oil futures experienced a decline on Thursday morning, despite a significant drop in U.S. crude inventories for the week ending September 12.
As of 9:57 a.m. on Thursday, November Brent crude oil futures traded at $67.77, a decrease of 0.26%, while October West Texas Intermediate (WTI) crude futures were priced at $63.83, down by 0.34%. In India, September crude oil futures were listed at ₹5,623 on the Multi Commodity Exchange (MCX), reflecting a drop of 0.41% from the prior close of ₹5,646. Similarly, October futures were priced at ₹5,613, down by 0.44% compared to the previous close of ₹5,638.
The U.S. Energy Information Administration (EIA) reported a reduction in commercial crude oil inventories, showing a decrease of 9.3 million barrels for the week ending September 12. Current U.S. crude oil inventories stand at 415.4 million barrels, approximately 5% below the five-year average for this time of year.
In terms of gasoline, total motor gasoline inventories fell by 2.3 million barrels from the previous week, positioning it 1% below the five-year average. On the other hand, distillate fuel inventories increased by 4 million barrels, though they remain roughly 8% below the five-year average.
Total products supplied in the U.S. over the past four weeks averaged 20.7 million barrels per day, marking an increase of 1.7% compared to the same period last year. Specifically, motor gasoline product supplied averaged 8.9 million barrels per day, up by 0.5% year-on-year, while distillate fuel recorded an average of 3.7 million barrels per day, down by 1.8%. Jet fuel product supplied rose by 1.1% compared to the last year’s four-week average.
In related economic news, the U.S. Federal Reserve announced a 25 basis points reduction in its policy rate on Wednesday, with plans for two additional cuts by year-end. Fed Chair Jerome Powell indicated that the softening job market is a primary concern for policymakers.
Lower interest rates are expected to stimulate demand for commodities like crude oil. During Thursday’s initial trading session, October nickel futures were at ₹1,348.20 on MCX, up by 0.53% from the previous close of ₹1,341.10. On the National Commodities and Derivatives Exchange (NCDEX), October dhaniya contracts were trading at ₹8,360, increasing by 0.31% from ₹8,334. Conversely, September guarseed futures traded at ₹5,090, down by 0.26% from the previous close of ₹5,077.
Published on September 18, 2025.
