EIA data shows commercial crude inventories dropped to 408.4 million barrels, 7% below the five-year average for this period.
U.S. crude oil inventories declined by 3.8 million barrels for the week ended June 26, extending a trend of drawdowns. The drop pushed commercial stockpiles to 408.4 million barrels, marking a 7% deficit compared to the five-year average for this time of year.
The draw follows an earlier report from the American Petroleum Institute, which estimated a larger decline of 6.072 million barrels. Stockpiles have steadily declined in recent weeks, reflecting strong refining activity and export demand amid tight global supply conditions.
The data reinforces expectations of sustained upward pressure on oil prices, with inventories now at multi-year lows relative to seasonal norms.