Crude oil inventories in the US fell by 2.032 million barrels in the week that ended May 2, 2025, more than market expectations of a 1.7 million barrel decrease, according to data from the EIA Petroleum Status Report.
Also, stocks in the Cushing, Oklahoma, delivery hub dropped by 740 thousand barrels.
Among refined fuels, gasoline stocks rose by 188 thousand barrels while stocks of distillate fuels declined by 1.107 million barrels.