US Crude Oil Stocks Fall More Than Estimates

US crude oil inventories fell by 6.8 million barrels in the week ending May 29, 2026, according to the American Petroleum Institute, sharply exceeding expectations for a 3.6 million-barrel decrease. The latest figure also marked the seventh consecutive weekly decline and followed a 2.8 million-barrel draw in the previous week. Gasoline inventories rose by 3.5 million barrels after falling 3.2 million barrels a week earlier, while distillate inventories, which include diesel and heating oil, declined by 214,000 barrels, reversing a 1.1 million-barrel increase in the prior week. The latest API data pointed to a sharper-than-expected drawdown in US crude stockpiles, while refined fuel inventories showed mixed trends.

US crude oil inventories fell by 2.8 million barrels in the week ending May 22, 2026, according to the American Petroleum Institute, following a 9.1 million-barrel draw in the previous week. Inventories in the US Strategic Petroleum Reserve continued to decline as authorities sought to ease pressure on oil prices. Gasoline inventories dropped by 3.2 million barrels after falling 5.8 million barrels in the prior week. At Cushing, Oklahoma, the WTI delivery hub, inventories declined by 2.9 million barrels, extending the previous week’s 1.4 million-barrel draw. Meanwhile, distillate inventories rose by 1.1 million barrels after a 1 million-barrel decline in the previous period. Despite recent draws, US crude inventories have increased by 22 million barrels so far this year, according to API data.

US crude oil inventories fell by 9.10 million barrels in the week ended May 15, 2026, according to the American Petroleum Institute, sharply exceeding expectations for a 3.4 million-barrel draw and following a 2.19 million-barrel decline in the previous week. Despite the weekly draw, total crude stocks are still up 26 million barrels year-to-date. Gasoline inventories dropped by 5.80 million barrels after a 0.50 million-barrel build in the prior week, while distillate inventories fell by 1.00 million barrels, extending recent declines amid already tight seasonal levels. Cushing inventories, the WTI delivery hub, decreased by 1.40 million barrels over the reporting period. The US Strategic Petroleum Reserve recorded a record weekly drawdown of 9.90 million barrels, bringing total SPR stocks to 374.2 million barrels, the lowest since July 2024.