Financial News: U.S. Crude Oil Inventories Tumble Much More Than

U.S. Crude Oil Inventories Tumble Much More Than Expected

06/03/2026 - 10:58:00 (RTTNews)

(RTTNews) - The Energy Information Administration released a report on Wednesday showing a significant decrease in U.S. crude oil inventories in the week ended May 29th.

The report said crude oil inventories tumbled by 8.0 million barrels last week after falling by 3.3 million barrels in the previous week. Economists had expected crude oil inventories to slump by 4.0 million barrels.

At 433.7 million barrels, U.S. crude oil inventories are about 3 percent below the five-year average for this time of year, the EIA said.

Meanwhile, the EIA said gasoline inventories increased by 3.4 million barrels last week but remain 5 percent below the five-year average for this time of year.

Distillate fuel inventories, which include heating oil and diesel, also rose by 1.5 million barrels last week but are still about 3 percent below the five-year average for this time of year, the EIA said.

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