EIA data shows commercial crude inventories fell to 418.2 million barrels, 6% below the five-year average for mid-June.
US commercial crude oil inventories declined by 8.3 million barrels in the week ending June 12, extending a downward trend. The drawdown reduced stockpiles to 418.2 million barrels, marking a 6% deficit compared to the five-year average for this period.
The latest figures follow a 8.33 million barrel draw reported by the American Petroleum Institute a day earlier. Inventories have steadily declined over recent weeks, reflecting strong refining activity and export demand amid tight global supply conditions.
Market participants are monitoring the persistent drawdowns as OPEC+ production cuts and geopolitical tensions continue to support oil prices.