US oil inventories shed 4.3M barrels last week

Oil tanks

Crude oil inventories in the US fell more than expected in the week ended May 30, signaling a rebound in US energy demand, according to a report released by the Energy Information Administration (EIA).

Crude oil inventories decreased by about 4.3 million barrels last week, compared to expectations for a fall of about 1.3 million barrels.

Gasoline inventories increased by 5.2 million barrels, against forecasts for of a 400,000-barrel decline. Distillate stocks—including diesel and heating oil—rose by 4.2 million barrels.