FX.co ★ U.S. Refinery Slowdown Eases as Utilization Decline Narrows Week-Over-Week

The latest U.S. Energy Information Administration (EIA) data show that the contraction in refinery utilization rates has moderated, signaling a potential stabilization in U.S. refining activity. For the week ending prior to 04 February 2026, the week-over-week change in utilization stood at -0.4%, a notable improvement from the previous week’s sharper decline of -2.4%.

The figures indicate that while U.S. refineries are still operating below prior-week levels, the pace of the pullback has slowed. The “Actual” reading of -0.4% reflects the change in utilization for the current week compared with the previous one, whereas the “Previous” figure of -2.4% represents the shift seen in the prior week versus the week before that.

Market participants may interpret the easing decline as a sign that recent headwinds—whether driven by seasonal factors, maintenance, or softer product demand—could be starting to abate. However, utilization remains under pressure on a week-over-week basis, leaving investors and energy analysts focused on upcoming reports for clearer confirmation of a turning point in U.S. refinery operations.