US Crude Stocks Fall To 3-Month Low

Oil

US crude oil inventories declined by 5.25M bbls w-o-w (the largest weekly fall since December 2016) to a 3-month low of 522.53M bbls in the week ending 5 May, US EIA data shows. US crude refinery throughputs fell by 418K b/d from the prior week to 16.76M b/d, while crude imports dropped by 644K b/d w-o-w to 7.6M b/d.