Total U.S. crude imports increased by 470 Mb/d to 6.915 MMb/d, with Canadian supplies rising by 350 Mb/d and once again surpassing 4 MMb/d. This rise could be attributed to companies trying to import as much Canadian crude oil as possible ahead of the tariffs discussed last week.

China imposed a 10% import duty on U.S. crude oil on Tuesday in response to the Trump administration's decision to levy an additional 10% tariff on all Chinese goods entering the U.S.

The EIA reported total U.S. propane/propylene inventories had a withdrawal of 4.8 MMbbl for the week ended January 31, which was more than industry expectations for a decrease of 3.5 MMbbl and above the average draw for the week of 3.2 MMbbl. Total U.S.

U.S. crude oil exports averaged 3.8 MMb/d last week, up 324 Mb/d from the prior week, recovering from Winter Storm Enzo, which impacted the Gulf Coast the prior week. Exports last week aligned with the year-to-date average.

Production of natural gas in the Permian Basin was back at its pre-freeze off level all week after being reduced from January 19 through January 22. Production ranged from 20.32 Bcf/d to 20.57 Bcf/d and averaged 20.46 Bcf/d for the week ended February 3.