US crude inventories fall 2.8M barrels last week
US crude oil inventories declined more than anticipated in the week ended May 23, signaling a rebound in US energy demand ahead of Memorial Day, according to data released by the Energy Information Administration (EIA) on Wednesday.
Commercial crude inventories fell by 2.8 million barrels last week, compared to expectations for a rise of 600,000 barrels.
Gasoline inventories also decreased by 2.4 million barrels, while distillate stocks—including diesel and heating oil— were down by 700,000 barrels.
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