FX.co ★ US Crude Oil Inventories Fall More than Expected: EIA

U.S. crude oil inventories experienced a decline of 2.032 million barrels for the week ending May 2, 2025, surpassing market expectations of a 1.7 million barrel drop, according to the EIA Petroleum Status Report. Additionally, inventories at the Cushing, Oklahoma delivery hub decreased by 740 thousand barrels. In the realm of refined fuels, gasoline stockpiles increased by 188 thousand barrels, whereas distillate fuel inventories saw a reduction of 1.107 million barrels.