US crude inventories fall below expectations as oil prices retreat - ConocoPhillips slides

Sep 16, 2026 14:33 (39d ago)

U.S. commercial crude inventories fell about 0.64 million barrels for a third consecutive week, below the expected draw.
Stocks stood at 423.4 million barrels, or 1% above the five-year average, while gasoline inventories rose about 0.8 million barrels and distillates increased about 1.6 million.
Brent and WTI later fell 3.3% and 3.9%, respectively, as Saudi export disruption concerns eased; ConocoPhillips shares declined 4.69%.

U.S. commercial crude inventories excluding the Strategic Petroleum Reserve fell about 0.64 million barrels to 423.4 million in the week ended September 11, 2026, marking a third consecutive weekly decline but coming in below expectations. Gasoline and distillate inventories increased, while four-week total products supplied declined year over year. Oil prices later retreated as Saudi Arabia routed additional crude to Asian buyers through alternative export arrangements, easing some disruption concerns, although the risk of wider Middle East escalation remained. ConocoPhillips shares fell 4.69% to $134.60 at the time of publication.