Commodities Buzz: API crude, gasoline inventories continue to sink

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 2.8 million barrels in the week ending May 22. In the week prior, US crude oil inventories fell by 9.1 million barrels. US crude inventories have risen by 22 million barrels so far this year, according to API data. Gasoline inventories saw a draw of 3.199 million barrels in the week ending May 22. In the week prior, gasoline inventories fell by 5.8 million barrels.

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