U.S. crude inventories drop more than expected

U.S. crude oil inventories fell more than anticipated last week. According to the EIA, the Energy Department’s statistical agency, crude stocks declined by approximately 11.5 million barrels to 420.9 million barrels (MB), in the week ending June 13, 2025. Analysts had expected a decrease of just 2.3 million barrels. Distillate stocks rose by 0.5 million barrels to 109.4 MB, while gasoline inventories increased by 0.2 million barrels to 230 MB. Strategic petroleum reserves edged up by 0.2 million barrels to 402.3 MB.