Oil tanks
US crude oil inventories fell in the week ended June 19, extending the decline to the ninth consecutive week and beating expectations of a decrease by 4.1 million barrels, according to a report released by the Energy Information Administration (EIA). 
US Crude Derivatives Inventories (mln barrels)
Item
Last Year
Last Week
Current
Weekly Change
Crude Oil
415.1
418.2
412.1
(6.1)
Gasoline
227.9
214.2
216.3
+2.1
Distillates
105.3
103.1
106.1
+3.1
What does this mean?The data indicate a continued drawdown of commercial oil inventories amid rising consumption during the summer season, in addition to offsetting the global shortfall in crude oil supplies resulting from the repercussions of the war in the Middle East.
Oil tanks
US crude oil inventories fell in the week ended June 19, extending the decline to the ninth consecutive week and beating expectations of a decrease by 4.1 million barrels, according to a report released by the Energy Information Administration (EIA).
US Crude Derivatives Inventories (mln barrels)
Item
Last Year
Last Week
Current
Weekly Change
Crude Oil
415.1
418.2
412.1
(6.1)
Gasoline
227.9
214.2
216.3
+2.1
Distillates
105.3
103.1
106.1
+3.1
What does this mean?The data indicate a continued drawdown of commercial oil inventories amid rising consumption during the summer season, in addition to offsetting the global shortfall in crude oil supplies resulting from the repercussions of the war in the Middle East.
