US crude inventories reach 8-year low

Commercial crude oil inventories in the United States decreased to their lowest level since 2018, falling by 3.8 million barrels to reach 408.4 million barrels in the week ending June 26, amid rising demand from domestic refineries. Gasoline stocks also declined by about 2.3 million barrels, while distillate inventories increased by 2.5 million barrels. Additionally, crude oil imports rose by 370,000 barrels per day.

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