EIA reports U.S. crude inventories fell for a sixth straight week in the week to
May 29 as exports rose and refinery runs approached capacity. Commercial crude
stocks excluding the Strategic Petroleum Reserve fell 7.974 mln barrels to 434.0
mln barrels, roughly 3% below the five‑year average. The SPR dropped 8.0 mln
barrels to 357.1 mln barrels amid ongoing emergency releases. Gasoline stocks
rose 3.4 mln barrels to 215.0 mln barrels, ending a 15‑week decline and
remaining about 5% below the five‑year average; gasoline demand fell 662,000 bpd
to 8.6 mln bpd.
