Cushing Crude Oil Inventories
Published:
A weekly measure of commercial crude oil held at the Cushing, Oklahoma storage hub.
Full explanation
Cushing Crude Oil Inventories measures the amount of commercial crude oil held at storage facilities in Cushing, Oklahoma. Cushing is a major U.S. oil-storage and pipeline hub and the delivery location for NYMEX WTI crude oil futures. The U.S. Energy Information Administration publishes the stock level weekly within its Weekly Petroleum Status Report; calendar coverage commonly focuses on the weekly change as well as the total level.
Why traders watch it
The figure provides a timely view of crude availability at a key WTI delivery hub. It can matter for WTI pricing, the relationship between WTI and other crude benchmarks, refined-product margins, and energy-sensitive market sentiment.
Market interpretation
- WTI crude oil and related futures
- May affect assessments of supply availability at the WTI delivery hub and contribute to short-term price volatility.
- Energy-linked currencies and equities
- May influence sentiment when it changes the wider interpretation of U.S. oil-market conditions.
- Refined-product and energy derivatives
- Can provide context for regional crude flows and storage conditions when considered with the full petroleum report.
Stronger vs weaker outcomes
A larger-than-expected build may be interpreted as a sign of more crude available at the Cushing hub, while a larger-than-expected draw may be interpreted as tighter local availability. The market response can differ when national crude stocks, refinery activity, imports, exports, or the broader petroleum balance point in another direction.
A higher inventory level or a larger weekly build may be viewed as indicating greater crude availability at Cushing, although the implication can depend on why stocks changed.
A lower inventory level or a larger weekly draw may be viewed as indicating less crude available at Cushing, although the implication can depend on refinery runs and pipeline flows.
Larger builds can suggest more crude stored at Cushing; larger draws can suggest less, subject to the wider EIA petroleum balance.
Typical volatility
Moderate. Cushing is a specific storage location, not a measure of all U.S. crude inventories. Weekly estimates can be affected by pipeline flows, refinery operations, logistics and seasonal patterns, so the result is best assessed alongside the full EIA petroleum report.
Trading considerations
- Check the release time because EIA publication schedules can shift around U.S. federal holidays.
- Compare the Cushing result with total U.S. commercial crude stocks, gasoline and distillate inventories, refinery utilization, crude imports and implied product demand.
- Focus on the weekly change, the stock level and revisions or methodological notes rather than treating any single figure in isolation.
- Expect liquidity and spreads in oil-linked instruments to change around the broader Weekly Petroleum Status Report.
Educational guidance only — never a trading signal or recommendation.
Related indicators
15-Year Mortgage Rate
A weekly Freddie Mac measure of average U.S. 15-year fixed-rate mortgage borrowing costs.
Absa Manufacturing PMI
A monthly survey indicator tracking whether South African manufacturing conditions are improving or weakening.
ADP Employment Change
ADP Employment Change is a private estimate of changes in U.S. private-sector jobs based on payroll data from ADP.
ADP Nonfarm Employment Change
A monthly, payroll-data-based measure of changes in US private-sector employment.
Ai Group Australian Industry Index
A monthly survey-based gauge of whether activity in Australian industrial sectors is expanding or contracting.
Albania Balance of Trade
Albania Balance of Trade measures the difference between the value of Albania’s goods exports and goods imports.