US Crude oil inventories fell in the week ended June 26, extending the decline to the tenth consecutive week and beating expectations of a decrease by 3.1 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
419.0
412.1
408.4
(3.8)
Gasoline
232.1
216.3
214.0
(2.3)
Distillates
103.6
106.1
108.6
+2.5
What does this mean?The data indicate a continued drawdown of commercial oil inventories amid strong demand for exports, along with operating refineries near their topmost capacities due to the repercussions of the war in the Middle East.
US Crude oil inventories fell in the week ended June 26, extending the decline to the tenth consecutive week and beating expectations of a decrease by 3.1 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
419.0
412.1
408.4
(3.8)
Gasoline
232.1
216.3
214.0
(2.3)
Distillates
103.6
106.1
108.6
+2.5
What does this mean?The data indicate a continued drawdown of commercial oil inventories amid strong demand for exports, along with operating refineries near their topmost capacities due to the repercussions of the war in the Middle East.
