US Oil Inventories Down 7.2 M Barrels in Week

The United States crude oil inventories decreased by 7.195 million barrels during the week ended June 26, according to data by the US Energy Information Administration (EIA) released on Wednesday.

This is the first decline in US oil inventories after three consecutive weekly increases.

The decrease exceeded the expectations of market experts, with some recent market surveys forecasting a decline of 2.7 million barrels.

In the previous week, US oil inventories increased by 1.442 million barrels.