API shows US crude inventories fell for two straight months, sources say

U.S. crude oil inventories fell for an eighth consecutive week, according to market sources citing American Petroleum Institute data released Tuesday. Gasoline stocks also declined, reinforcing a tight near-term supply backdrop for refined products and crude inventories. The report is routine but relevant for energy market sentiment and short-term price expectations.

Analysis

U.S. crude oil inventories fell for an eighth consecutive week, according to market sources citing American Petroleum Institute data released Tuesday. Gasoline stocks also declined, reinforcing a tight near-term supply backdrop for refined products and crude inventories. The report is routine but relevant for energy market sentiment and short-term price expectations.