Crude oil inventories in the United States fell this week by 1.9 million barrels for the week ending July 5
, according to The American Petroleum Institute API , after analysts had expected a 250,000-barrel draw. For the week prior, the API reported a surprise 9.163-million-barrel draw in crude inventories. On Tuesday, the Department of Energy DoE reported that crude oil inventories in the Strategic Petroleum Reserve SPR rose by 500,000 barrels as of July 5. Inventories are now at 373.1 million, up from 372.6 million barrels the previous week.
87% from this time last week. Gasoline inventories fell by 3 million barrels this week, after last week’s 2.468-million-barrel increase. The inventory outlier was distillates, which saw a 2.3-million-barrel increase in stockpiles, compared to last week’s 740,009-barrel draw. Cushing inventories were down 1.2 million barrels this week, according to API data, after rising by 404,000 barrels in the previous week.
Oil Inventories Crude Gasoline Refining Distillates Downstream
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