US oil inventories fall 11.5M barrels last week

Oil tanks

Crude oil inventories in the US fell more than expected in the week ended June 13, signaling a rebound in US energy demand, according to a report released by the Energy Information Administration (EIA).

Crude oil inventories decreased by about 11.5 million barrels last week, compared to expectations for a fall of about 1.6 million barrels.

Meanwhile, gasoline inventories increased by 200,000 barrels, and distillate stocks—including diesel and heating oil—rose by 500,000 barrels.