API data shows a larger-than-expected draw, extending a nine-week decline totaling 52 million barrels.
US crude oil inventories fell by 8.33 million barrels in the week ending June 12, exceeding analysts’ expectations of a 4.5 million barrel draw. The decline follows a 9.119 million barrel drop the previous week, marking a sustained reduction over the past two months.
Over the last nine weeks, inventories have decreased by 52 million barrels, though year-to-date stocks are only down 1.4 million barrels. The drawdown reflects ongoing supply adjustments amid steady demand.
The data did not include immediate market reaction details, but the larger-than-expected draw may support oil prices in near-term trading.