Commodities Buzz: US crude inventories fall by 4.28 million barrels, says API

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell again, this time by 4.277 million barrels in the week ending June 20. The draw adds to last week?s shockingly massive 10.133 million barrel inventory decrease. Gasoline inventories rose in the week ending June 20, by 764,000 barrels, after falling by 20,000 barrels in the week prior. Distillate inventories fell this week by 1.026 million barrels. In the week prior, distillate inventories rose 318,000 barrels.

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