Oil storage in the United States is rising again. According to the American Petroleum Institute (API), the amount of oil stored grew by about 2.5 million barrels last week, ending on May 16. This is surprising because experts thought storage would go down by nearly 1.9 million barrels. The week before, the US had already added over 4.2 million barrels of oil to its storage.

Oil Stocks Are Growing Fast

So far in 2025, oil storage has grown by more than 25 million barrels, based on API numbers. That means the US is keeping a lot more oil in its tanks than earlier this year.

The Department of Energy (DoE) also gave an update. It said the US government’s special emergency oil supply—called the Strategic Petroleum Reserve (SPR)—added 900,000 barrels in the same week, reaching 400.5 million barrels in total.

While this is good news for backup supplies, the SPR still has a lot less oil than it did before President Biden’s team used a big part of it to lower fuel costs in the past. However, the reserve has been growing faster over the last few weeks.

This is another important update in current oil price news, because it tells us how much extra oil is sitting in storage, which can affect prices.

Oil Prices Show Small Changes

As of 4:20 pm. Eastern Time on May 20, Brent crude oil was priced at $65.66 per barrel. That’s just 12 cents more than the day before but still around $1 less than the same time last week.

The US oil type, called West Texas Intermediate (WTI), was selling for $62.62 per barrel—7 cents lower than the day before. This is also nearly $1 less than it was the week before.

These numbers show that oil prices have not gone up, even with all the recent updates in oil price news. People who follow the oil price per barrel today are keeping a close eye on these small changes.

Gasoline Supply Falls Again

Even though the U.S. is storing more crude oil, it has less gasoline. Last week, gasoline stocks went down by 3.24 million barrels. The week before that, they dropped by another 1.37 million barrels.

Gasoline storage is now 3% lower than the usual amount for this time of year, based on data from the US Energy Information Administration (EIA). This means there could be tighter supplies for drivers this summer.

This drop in gasoline stock is an important point in this week’s oil price news, especially when looking at the gas prices graph, which shows how fuel costs change over time.

Distillate Supplies Also Drop

Distillates—which include things like diesel and heating oil—are also going down. Last week, distillate supplies dropped by about 1.4 million barrels. The week before that, they fell by a bigger 3.67 million barrels.

According to the latest numbers, the US has 16% less distillate fuel than the five-year average. That’s a big drop. Truckers, factories, and homes that use this fuel may feel the impact soon.

This decrease in fuel like diesel is another reason why people are watching oil price news very carefully. If supplies keep falling, prices could go up again, even if crude oil prices are staying flat for now.

Cushing Storage Shrinks Slightly

There’s also news from Cushing, Oklahoma—a key place where the US keeps and trades oil. Storage levels at Cushing dropped by 443,000 barrels last week. That’s not as big a drop as the previous week, when it fell by 850,000 barrels.

Even small changes in Cushing can affect the oil price per barrel today, because this site plays a big role in how US oil is priced and traded.

The gas prices graph also tends to move based on storage numbers from this area, especially during travel seasons like summer.

Why Storage Keeps Growing

Many people are asking why oil storage is growing when prices are not. One reason is that oil demand hasn’t been very strong. Even though the US economy is doing okay, people and companies are not using as much oil as expected. Some are still driving less or trying to save on fuel costs.

At the same time, oil is still being pumped out of the ground in large amounts—both in the US and in other countries. That means there’s more oil coming in than going out. The extra oil is going into storage tanks.

This is the kind of update that matters a lot in oil price news, because too much oil can make prices stay low.

What It Means for Drivers

For regular people, this may seem like good news. If there’s a lot of oil and gasoline available, it could keep gas prices from rising too much. But the drop in gasoline and distillate fuel stocks means some areas might still see higher fuel prices—especially during summer travel.

Looking at the gas prices graph, prices have been moving up and down in small steps. Experts say gas prices could rise slightly in the next few weeks, but not by a large amount unless something major happens in the world.

What’s Next for Oil Prices?

Nobody can say for sure what will happen next, but experts are watching a few things:

Will oil demand go up in the summer as more people travel?
Will the US keep adding to its oil reserves?
Will countries like Saudi Arabia or Russia change how much oil they produce?
Will there be any big weather events, like hurricanes, that affect oil supply?

All these questions will shape the next big updates in oil price news and influence the oil price per barrel today.

If demand stays the same and storage keeps growing, prices could stay low. But if something unexpected happens, prices might quickly rise again.

Final Thoughts

Oil storage in the U.S. is getting bigger again, while prices are staying mostly flat. This is happening at a time when people are using less fuel, and oil production is still strong. Gasoline and diesel supplies are shrinking, and that could push prices up later.

For now, drivers may enjoy stable prices, but the market is still unpredictable. Keeping an eye on oil price news and the gas prices graph can help people understand what might happen next.

We’ll keep following the data every week to bring you the latest updates on oil storage, prices, and fuel trends—so you’re never left guessing about what’s coming next.