API shows US crude stocks fell for sixth straight week, fuel inventories also drop, sources say

U.S. crude oil inventories fell for a sixth straight week, according to API data cited by market sources, while fuel stocks also declined. The report is supportive for crude balances but is routine inventory data rather than a major market-moving catalyst.

Analysis

U.S. crude oil inventories fell for a sixth straight week, according to API data cited by market sources, while fuel stocks also declined. The report is supportive for crude balances but is routine inventory data rather than a major market-moving catalyst.