US Crude Inventories Fall by 765,000 Barrels as API Reports Weekly Draw

Key Facts

In a move reflecting continued inventory draws in the world's largest energy consumer, American Petroleum Institute (API) data showed a decrease in crude oil stockpiles by 765,000 barrels last week. According to reports, this decline for the week ending June 19 reflects the ongoing balance between domestic production levels and imports against demand from U.S. refineries.

This draw comes as markets monitor global demand signals, with U.S. crude inventories recording consecutive declines in recent weeks. Compared to the Energy Information Administration (EIA) report released on June 17, 2026, stockpiles saw a much larger drop of 8.262 million barrels, significantly exceeding market expectations of a 4.6 million barrel draw per market data.

Traders are now shifting focus to the official EIA report to confirm these figures, with WTI crude prices hovering near $80 per barrel (at close June 23, 2026). Markets are also awaiting U.S. GDP data later this week as an additional catalyst for energy prices.

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