According to market sources citing figures from the American Petroleum Institute (API), U.S. crude oil, gasoline, and distillate inventories experienced a decline last week.
For the week ending July 19, crude stocks fell by 3.9 million barrels. Additionally, gasoline inventories decreased by 2.8 million barrels, while distillate stocks were down by 1.5 million barrels. These figures indicate a tightening of supply in the U.S. oil market.
API Reports Weekly Decline in U.S. Crude and Fuel Stockpiles