US commercial crude inventories stood at 424.1 million barrels as of the week ending October 2, 2026, reflecting a 3.2 million barrel draw driven by a surge in exports to 4.77 million barrels per day and higher refinery crude runs. The Strategic Petroleum Reserve continued its steady decline to 283 million barrels amid ongoing government exchanges tied to Middle East supply disruptions, marking its lowest level since 1982. Global inventory draws have accelerated due to production shut-ins averaging over 4 million barrels per day in recent months, tightening physical balances and supporting elevated WTI and Brent prices near $96–$105 per barrel. The next EIA Weekly Petroleum Status Report, due October 15, along with potential Gulf Coast weather impacts, will provide key updates into the October 30 resolution window.