Prior was +3842KGasoline -5436K vs -1607K expDistillates -2527K vs -1525K expRefinery utilization +0.6% vs +0.4%The API data from late yesterday:Crude +6600KGasoline -4600KDistillates +1400K Given the API data, this isn't a huge surprise but it's still bearish. Of course, the oil market is worried about much bigger things that US inventories at the moment.For background, the EIA Weekly Petroleum Status Report is one of the most closely watched energy data releases in the world, published every Wednesday by the U.S. Energy Information Administration. It provides a snapshot of U.S. crude oil and petroleum product supply conditions, covering inventories, production, imports, exports, and refinery activity.The headline number traders and analysts focus on is the change in commercial crude oil inventories, excluding the Strategic Petroleum Reserve. A larger-than-expected build in stocks generally signals softer demand or oversupply and tends to weigh on crude prices, while an unexpected draw suggests tighter conditions and can push prices higher. The report also tracks inventories of refined products like gasoline, distillates (diesel and heating oil), and propane, each of which carries its own seasonal demand patterns.Beyond storage levels, the report includes data on refinery utilization rates, domestic crude production estimates, and import and export volumes. These figures help paint a fuller picture of how oil is flowing through the U.S. energy system in any given week. Refinery runs, for instance, tend to ramp up ahead of summer driving season and pull back during maintenance periods in the fall and spring, creating predictable seasonal swings in both crude demand and product output.The report is typically released at 10:30 a.m. Eastern Time on Wednesdays, with delays when federal holidays fall earlier in the week. Because of its frequency and granularity, it often moves oil futures markets within minutes of publication and serves as a key input for energy traders, policymakers, and analysts tracking the balance between global supply and demand. This article was written by Adam Button at investinglive.com.