CommoditiesMedium•7 October 2026•
1 min read
US Crude Inventories Drop by 3.1 Million Barrels in Largest Draw in 6 Weeks
Key Facts
1US crude inventories fell by 3.186 million barrels, the largest draw in 6 weeks, defying analyst expectations of a 1.9 million barrel increase.
2Cushing stockpiles rose for the third consecutive week to 24.7 million barrels, the highest level since May.
3An additional 784,000 barrels were withdrawn from the Strategic Petroleum Reserve in the week ending Oct. 2.
US crude inventories fell by 3.186 million barrels, marking the largest weekly draw in 6 weeks. ZeroHedge reported that the decline defied analyst expectations of a 1.9 million barrel increase, while an additional 784,000 barrels were withdrawn from the Strategic Petroleum Reserve in the week ending October 2, 2026.
Cushing stockpiles rose for the third consecutive week to reach 24.7 million barrels, the highest level since May 2026. Despite the significant commercial draw, markets focused on the build at the Cushing hub and lackluster gasoline demand, keeping prices under pressure amid broader bearish sentiment.