Crude oil inventories in the United States decreased by 8.0 million barrels during the week ending May 29, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 6.75 million barrels in the week ending May 29

US crude oil inventories fell 6.75M barrels per the API's latest report, nearly double the 3.6M barrel forecast, signaling tighter supply into summer.