Crude Oil Inventories Report for Week Ending July 3, 2026

Crude Oil Inventories

The U.S. Crude Oil Inventories report for the week that ended on July 3, 2026 was released this morning:

-- Δ from Last Week: -3,200,000 Barrels (-0.44%)

-- Δ from 1-Year Previous: -98,200,000 Barrels (-11.85%)

-- Current U.S. Crude Oil Stocks: 730,800,000 Barrels

• NB: Δ = Change

Diminishing crude oil inventories often translate to higher crude oil and fuel prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

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ISM Non-Manufacturing (SERVICES) Index for JUNE 2026

The Institute for Supply Management (ISM®) released their Non-Manufacturing / Services Index (NMI®) for June, 2026:

==========

• Actual: 54.0%  (-0.5 point month-on-month change)

==========

Previous month: 54.5%

==========

The NMI is a reliable barometer of the U.S. services sector; above 50% implies expansion, while a reading below 50% implies that the services sector contracted.

==========

From Today' Report:

 

 "... Economic activity in the services sector continued to expand in June, say the nation’s purchasing and supply executives in the latest ISM® Services PMI® Report. The Services PMI® registered 54 percent, the 24th consecutive month in expansion territory..."

 
===========

Here's A Sampling Of Comments
Made By Survey Participants:

• "We continue to experience higher prices due to the Persian Gulf conflict through rising diesel fuel costs and increased input costs for resin-based packaging. The brunt of the impact will be experienced in the third quarter (Q3) of 2026, but we are feeling the impact now. Suppliers are aggressively attempting to pass through price increases.”
   [Accommodation & Food Services] 

• “Extreme drought in Virginia is creating financial problems for farmers and the agricultural industry. Dramatically reduced spring crops harvest has created significant cost increases in feed expense. The barley grain crop was nearly totally lost due to the early hot weather and spring freeze. High fertilizer cost increases due to the Iran invasion and increased freight cost has driven cost for crops above breakeven levels on many farms. Many dairy farmers are struggling with crop shortages, high input cost and below milk price breakeven. The financial stress from higher cost due to the Iran invasion and drought-related forage losses has resulted in decreased spending in the agricultural sector.”
   [Agriculture, Forestry, Fishing & Hunting] 

• “In general, our company (commercial construction) is doing well. Pipeline is healthy for current and future work. Material pricing is higher and lead times on certain components in support of data center piping is elongating.”
   [Construction] 

• “In addition to the known semiconductor manufacturing issue, now there are concerns regarding memory availability that is materially impacting our OEM’s purchasing patterns, which is affecting availability and driving my company’s purchasing decisions, including how much longer we are sweating our assets, how frequently we refresh, and how we approach maintenance contracts.”
   [Finance & Insurance] 

• “Despite economic headwinds like persistent inflation, patient volumes and overall business activity remain strong reflected mainly by outstanding revenue performance. Supply chains remain resilient as well; back orders are at a historical low, and few if any critical products are experiencing difficulties. Labor is steady, as we continue to add full-time workers while the forecast remains positive. Given the continuation of the conflict in the Middle East, we are beginning to hear that cost of goods increases are on the horizon but have yet to materialize. Cost increases are in focus for the next quarter.”
   [Health Care & Social Assistance] 

• “From a strategic supply chain perspective, we are seeing increased complexity in managing total landed cost due to tariffs, import/export constraints and duty recovery mechanisms, requiring more proactive coordination across sourcing, logistics and compliance teams. Recent discussions internally also highlight the impact of tariff programs and duty drawback evaluations on purchasing strategies.”
   [Mining] 

• “Demand remains strong in infrastructure, environmental, and resilience projects, while procurement faces persistent labor inflation, supplier capacity constraints, and regulatory complexity—particularly in California and other high-cost markets. Labor-driven categories remain elevated despite easing goods inflation. The impact is higher rates, longer lead times, and increased importance of capacity assurance vs. lowest-cost sourcing.”
   [Professional, Scientific & Technical Services] 

• “Business has been very strong during what is usually a less active time of the year. Pricing is stable, and employment just where we want it to be. Supply chain strong with no challenges.”
   [Retail Trade] 

• “The utility industry continues to experience extended lead times, supply-chain constraints, material shortages, and pricing volatility. As a result, suppliers are often limiting quotation validity periods, with many RFQs carrying expiration dates as short as 24 hours. These conditions require timely evaluation and procurement decisions to mitigate the risk of price changes and availability issues.”
   [Utilities] 

• “We are experiencing continued sequential top-line growth driven mostly by increased prices.”
   [Wholesale Trade]
  

========== 

• Click here to view the complete ISM report
  

==========

CHART: ISM Services Index
(NMI®) JUNE 2026 Update

==========

  

CHART: ISM Services Index
12-Month History
JUNE 2026 Update

 ==========

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New Unemployment Insurance Claims for The Week of July 4, 2026

Jobless Claims

Earlier today, the Labor Department released its weekly report on New Jobless Insurance Claims for the week that ended on July 4, 2026:

====================
Predicted: 220,000

• Actual: 215,000

====================

The yellow-highlighted figure represents the number of first-time claims for unemployment benefits for the entire United States. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

 --> Previous Week (revised): 217,000

• 4-Week Moving Average: 218,750

====================

• Click here to view the full Labor Department report

====================

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ISM Manufacturing Index for JUNE 2026

The Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for June, 2026:

=========

• Actual: 53.3% (-0.7 point month-on-month)

=========

Previous month: 54.0%

=========

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month specified, while a reading below 50% implies that the made-in-the-USA sector contracted.

=========

From Today's Report:

"...Economic activity in the manufacturing sector expanded in June for the sixth consecutive month, say the nation’s supply executives in the latest ISM® Manufacturing PMI® Report..."

=========

The Following Is A Sampling Of Quotes
From A Diverse Pool Of U.S. Manufacturers:

• “The conflict in Iran has impacted pricing in every category of raw materials. Especially, items that have a heavy concentration of oil in the components like our adhesives.”
   [Chemical Products] 

• “Continued pressure from conflict in Middle East is resulting in a more conservative approach to capital expenditures. We are seeing an increase in consumables and services purchasing from sectors like chemical analysis, per- and polyfluoroalkyl substances (PFAS), and environmental and pharmaceutical testing.”
   [Computer & Electronic Products] 

• “General purchasing operations are being shaped by (1) moderating but still elevated inflation, (2) higher interest rates and (3) continued policy uncertainty, particularly around tariffs and global trade. While overall economic growth remains resilient, it is slowing as consumer spending weakens under pressure from higher costs for energy and essential goods, reducing demand visibility and increasing cost sensitivity for buyers. Meanwhile, supply chains have stabilized compared to prior years but remain structurally complex, with trade policy volatility, geopolitical tensions and regulatory changes now ongoing cost drivers rather than temporary disruptions. Our organization continues balancing cost control with resilience, shifting sourcing strategies, tightening inventories and prioritizing supplier diversification and risk management.”
   [Computer & Electronic Products] 

• “Retail electronics sales seem to have stabilized to some extent. The pause in tariff changes has been welcomed the last two months, but it’s only a matter of time before more confusion is introduced.”
   [Electrical Equipment, Appliances & Components] 

• “Input costs remain elevated across key categories, driven largely by Middle East conflict impacts and ongoing tariff uncertainty. Supplier lead times have stretched, which is influencing our inventory strategy and sourcing decisions. We are managing exposure through diversified supplier bases and contract structures that balance cost certainty with operational flexibility.”
   [Food, Beverage & Tobacco Products] 

• “Conditions are optimistic but not yet booming for our company, even though many others, it seems, are experiencing growth. Machinery in support of defense and semiconductor manufacturing is very strong, a bright spot for our team. Industrial and medical clients are slow to purchase, focusing more on refurbished and upgraded units versus new ones.” [Machinery] 

• “Core business remains solid in the face of ongoing geopolitical uncertainty. Cautiously optimistic that a deal will be reached to reopen the Strait of Hormuz; concerned about ongoing ripple effects even when the strait reopens but situation is highly concerning if the strait remains closed. AI industry continues to have huge capacity consumption for critical electronics. Monitoring impact of U.S. defense industry needs on supplier capacity.”
   [Miscellaneous Manufacturing] 

• “No major changes from last month. With the potential ending of the Iran invasion, management is expecting us to go back to February pricing structures and plans since the increase in oil prices was driven by the war and not regular market influences.”
   [Petroleum & Coal Products] 

• “Requests from suppliers in Europe and India for ‘energy surcharges’ have stopped this past month. We’re seeing continued capacity growth in the Asia-Pacific region (excluding China), including Vietnam, Thailand and South Korea. Most suppliers are building for the longer term as geopolitical protection from all sides.”
   [Transportation Equipment] 

• “The new Section 232 tariffs continue to destroy our profitability and demand as we have to raise prices to deal with this gigantic tax. Add the ‘incentives’ for our company to pivot to purchasing non-U.S. sourced material, and one realizes the total ineptitude of this tariff policy.”
   [Transportation Equipment]
  

==========

CHART: ISM Manufacturing Index

JUNE 2026 Update

=========

DATA: ISM Manufacturing Index

12-Month History
JUNE 2026 Update

=========

=========

• Click here to view the complete ISM report

=========

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New Unemployment Insurance Claims for The Week of June 27, 2026

Jobless Claims

Earlier today, the Labor Department released its weekly report on New Jobless Insurance Claims for the week that ended on June 27, 2026:

====================
Predicted: 220,000

• Actual: 215,000

====================

The yellow-highlighted figure represents the number of first-time claims for unemployment benefits for the entire United States. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

 --> Previous Week (revised): 216,000

• 4-Week Moving Average: 222,000

====================

• Click here to view the full Labor Department report

====================

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Crude Oil Inventories Report for Week Ending June 19, 2026

Crude Oil Inventories

The U.S. Crude Oil Inventories report for the week that ended on June 19, 2026 was released this morning:

-- Δ from Last Week: -15,200,000 Barrels (-2.00%)

-- Δ from 1-Year Previous: -74,300,000 Barrels (-9.09%)

-- Current U.S. Crude Oil Stocks: 743,300,000 Barrels

• NB: Δ = Change

Diminishing crude oil inventories often translate to higher crude oil and fuel prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

• Click Here for the Weekly Crude Oil Price
  
  

• Click Here for A Crude Oil Price Chart
  
  
• Click Here for the FULL (Extended) Weekly Petroleum Status Report
  
  
• Click Here for the Weekly Petroleum Status Report DATA OVERVIEW
  
  
• Click Here for the Weekly Petroleum Status Report HIGHLIGHTS

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New Unemployment Insurance Claims for The Week of June 13, 2026

Jobless Claims

Earlier today, the Labor Department released its weekly report on New Jobless Insurance Claims for the week that ended on June 13, 2026:

====================
Predicted: 224,000

• Actual: 226,000

====================

The yellow-highlighted figure represents the number of first-time claims for unemployment benefits for the entire United States. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

 --> Previous Week (revised): 230,000

• 4-Week Moving Average: 223,250

====================

• Click here to view the full Labor Department report

====================

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U.S. Retail And Food Services Sales Report for MAY 2026

The Commerce Department this morning released advance estimates of U.S. Retail and Food Services Sales for MAY, 2026:

=================

Previous Month (revised): +0.4% (+$3,023,000,000)

• Actual: +0.88% (+$6,669,000,000)

=================

The highlighted percentage above represents the month-to-month, seasonally adjusted change in total sales receipts for retailers that sell durable and non-durable goods, and retailers that provide food and beverage services.

=================

• Est. Retail Sales During May, 2026: $763,705,000,000

• Year-On-Year Change: +6.88% (+$49,137,000,000)

=================

 

CHART: Retail Sales - Monthly

February 2006 Thru May 2026
MAY 2026 UPDATE
=================

• Click here to view the full Commerce Department report.
  
  

=================   

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Import and Export Price Indexes for MAY 2026

The Labor Department's Bureau of Labor Statistics released its report on U.S. Import and Export Price Indexes for May, 2026:

===============

Import Prices
Previous Reading*: +2.0%
Actual: +1.9%

• Change From 12-Months Previous: +6.7%

    -- Year-on-year previous reading = +4.2%

===============

Export Prices
Previous Reading*: +3.5%
Actual: +1.3%

• Change From 12-Months Previous: +11.2%

    -- Year-on-year previous reading* = +9.1%

===============
 

* = Revised data.  

 

The above percentages, highlighted in yellow, represent the month-to-month change in prices for:

• Imports: the cost of goods produced in other countries and sold in the United States.
• Exports: the cost of goods produced in the USA and sold in other countries.

Together, these indexes offer insight into the status of inflation in the United States, and for the global economy as well. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

=================

CHART: Import Price Index

MAY, 2026 Update

================= 

CHART: Export Price Index

MAY, 2026 Update

===============

• Click here to view the full Labor Department report.

===============

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Industrial Production + Manufacturing + Capacity Utilization During May 2026

The Industrial Production, Manufacturing and Capacity Utilization numbers for May, 2026 were released by the Federal Reserve:

Industrial Production:
Previous Month (revised): +0.9%
Actual: +0.1% Month-on-Month (M/M)

• Year-on-Year (Y/Y): +1.7%
  
  --> Y/Y Previous: +1.4%
  
  

Manufacturing:
Previous Month (revised): +0.7%
Actual:  FLAT (M/M)

• Y/Y : +1.4%
  
  --> Y/Y Previous: +1.3%
  
  

Capacity Utilization Rate:
Previous Month (unrevised): 76.1%
Actual:  76.2% 

• Y/Y : +1.3%
  
  --> Y/Y Previous: +1.3%

===============

CHART: Industrial Production

+ Manufacturing
+ Capacity Utilization
MAY 2026 UPDATE

 

===============

• Click here to view the full Federal Reserve report

==============

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New Unemployment Insurance Claims for The Week of June 6, 2026

Jobless Claims

Earlier today, the Labor Department released its weekly report on New Jobless Insurance Claims for the week that ended on June 6, 2026:

====================
Predicted: 220,000

• Actual: 229,000

====================

The yellow-highlighted figure represents the number of first-time claims for unemployment benefits for the entire United States. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

 --> Previous Week (unrevised): 225,000

• 4-Week Moving Average: 219,000

====================

• Click here to view the full Labor Department report

====================

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Producer Price Index - Final Demand (PPI-FD) for MAY 2026

Here is the Producer Price Index - Final Demand (PPI-FD) for MAY, 2026:

===============================
Previous Month (revised): +1.1%

• Actual: +1.1%

Change from 12 months previous:  +6.5% 
(prior - unrevised = +6.0%)

===============================

Below is the PPI-FD when Food, Energy and Trade Services are removed:

Previous Month (unrevised): +0.6% 

• Actual: +0.8%

Change from 12 months previous:  +5.1% 
(prior - unrevised = +4.4%)

===============================

• PPI-FD Goods, Year-on-Year: +10.4% (prior = +7.4%)

• PPI-FD Services, Year-on-Year: +4.9% (prior = +5.5%)

 

The above, yellow-highlighted percentages represent the month-to-month change in prices received by domestic producers of goods and services, for goods, services and construction in the United States, for final demand.

Final Demand = personal consumption (consumers), exports, government purchases and capital investment.
 
==============

CHART: Producer Price Index

  Final Demand (PPI-FD)
12-Month Percent Change
MAY 2026 Update

==============

• Click here to view the full Labor Department report.

============== 

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Crude Oil Inventories Report for Week Ending June 5, 2026

Crude Oil Inventories

The U.S. Crude Oil Inventories report for the week that ended on June 5, 2026 was released this morning:

-- Δ from Last Week: -15,100,000 Barrels (-1.9%)

-- Δ from 1-Year Previous: -58,800,000 Barrels (-7.05%)

-- Current U.S. Crude Oil Stocks: 775,700,000 Barrels

• NB: Δ = Change

Diminishing crude oil inventories often translate to higher crude oil and fuel prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

• Click Here for the Weekly Crude Oil Price
  
  

• Click Here for A Crude Oil Price Chart
  
  
• Click Here for the FULL (Extended) Weekly Petroleum Status Report
  
  
• Click Here for the Weekly Petroleum Status Report DATA OVERVIEW
  
  
• Click Here for the Weekly Petroleum Status Report HIGHLIGHTS

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Consumer Price Index (CPI) for MAY 2026

Earlier this morning, the Labor Department's Bureau of Labor Statistics released the Consumer Price Index (CPI) for May, 2026:

=========================================

CPI During May, 2026: 335.123

=========================================

Consumer Price Index (CPI); Headline

Predicted: +0.5%

->  Actual: +0.63 (+2.103 points)

• Year-on-Year Change: +4.25% (+13.658 points)

[Y-o-Y previous = +3.81%]

=========================================

CPI, Minus Food + Energy (Core CPI)

Predicted: +0.3%

 - > Actual: +0.31% (+1.043 points)

• Year-on-Year Change: +2.85% (+9.337 points)

[Y-o-Y previous = +2.75%]

=========================================

The above, yellow- and blue-highlighted figures represent month-to-month and year-on-year changes (not seasonally adjusted) in prices for a specific group of goods and services that consumers buy, and is, therefore, a very important part of the overall inflation picture for the country.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

General categories that constitute the CPI are:

• Healthcare
• Housing
• Clothing
• Communications
• Education
• Transportation
• Food and Beverages
• Recreation
• Miscellaneous Goods and Services (grooming expenses, etc.)

========================================

CPI During May, 2025: 321.465

=======================================

CHART: Consumer Price Index

12-Month Percentage Change
MAY 2026 Update

========================================

• Click here to view the full Labor Department report.
  

========================================

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ISM Non-Manufacturing Index (NMI®) for MAY 2026

The Institute for Supply Management (ISM®) released their Non-Manufacturing Index (NMI®) for May, 2026:

==========

Predicted: 54.0%

• Actual: 54.5%  (+0.9 point month-on-month change)

==========

Previous month (revised): 53.6%

==========

The NMI is a reliable barometer of the U.S. services sector; above 50% implies expansion, while a reading below 50% implies that the services sector contracted.

==========

From today' report:

"...Economic activity in the services sector continued to expand in May, say the nation’s purchasing and supply executives in the latest ISM® Services PMI® Report. The Services PMI® registered 54.5 percent, the 23rd consecutive month in expansion territory..."

===========

Here's A Sampling Of Comments
Made By Survey Participants:

• "We are seeing the dual effects of the administration’s tariff policy dynamics and the invasion of Iran affect our pricing. Suppliers across numerous industries are trying to pass price increases for fuel surcharges and increased input costs for resin-based products and the like. This is the definition of inflationary pressure starting to affect us. We expect significant cost increases to impact us by late second quarter (Q2) and definitely in Q3.”
   [Accommodation & Food Services] 

• “Starting to see increased supply constraints and associated price increases, especially for construction materials and computers like laptops and tablets.”
   [Educational Services] 

• “Patient volumes and activity remain high, employment is steady and supply chains are operating effectively. There are some product lines on allocation as a direct result of the invasion of Iran; however, the current state is manageable. Another concerning factor on the horizon: the current drop-out rate on Affordable Care Act (ACA) health insurance plans after the federal subsidy was eliminated as of January 1. Year-to-date dropout rates are approaching 14 percent, indicating we may be seeing a potential increase in uninsured patients in the foreseeable future. The short-term forecast is cautious optimism.”
   [Health Care & Social Assistance] 

• “The groundwood paper market remains tight. The announced sale of NORPAC to International Paper has caused some tightness. We figure intellectual property issues will eventually take NORPAC out of the book market. Freight remains expensive, with gas prices and fuel surcharges starting to come through.”
   [Information] 

• “Effective commodity prices (oil) have increased about 20 percent so far in 2026.”
   [Mining] 

• “Due to rising fuel costs, a major distributor has decided to hold freight with resellers until a new contract is negotiated that addresses these increased expenses. Unfortunately, this means there will be delays that will impact our internal projects.”
   [Public Administration] 

• “Supply chain reliability for aviation parts and consumables has generally improved, but volatility in jet fuel prices -- driven by geopolitical and logistics disruptions -- continues to complicate forecasting and inventory planning. Wage inflation and a tight labor market for skilled personnel are increasing supplier service costs, and growing sustainability expectations are raising demand (and cost) for sustainable aviation fuel, with availability still uneven by region. Overall, conditions are more stable than during the peak of supply chain disruptions, but elevated fuel, labor and sustainability-related costs remain key factors shaping our purchasing strategy and industry outlook.”
   [Transportation & Warehousing] 

• “Inflationary pressures continue to impact pricing in certain categories. General concern over supply continuity due to unprecedented demand continues in the utility space.”
   [Utilities] 

• “Capital expenditure energy projects continue to be delayed or revamped based on macroeconomic factors. Data center power generation projects are driving demand and reducing available inventory across the piping market.”
   [Wholesale Trade]
  
  ===========

• Click here to view the complete ISM report
  
  

==========

CHART: ISM Non-Manufacturing (Services) Index
(NMI®) MAY 2026 Update

==========

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