The decline follows a larger draw of 9.1M barrels the prior week, signaling potential shifts in crude demand or supply.
U.S. crude oil stockpiles fell by 2.8 million barrels for the week ending May 22, marking a second consecutive weekly decline. The drawdown suggests tightening supply or rising demand in the domestic market.
The latest drop follows a sharper decline of 9.1 million barrels in the previous week. Analysts had anticipated a smaller draw, but the back-to-back declines may indicate stronger-than-expected consumption or production adjustments.
Gasoline inventories also declined, though specific figures were not immediately available. The data could influence near-term oil price movements and refining margins.