US crude stocks fall again, but gasoline inventories increase: sources

• Crude inventories fell 2.2 million barrels, marking the fourth straight weekly decline
• Gasoline stocks increased by 502,000 barrels, moving counter to crude trends
• Distillate inventories decreased by 319,000 barrels for the week

US Crude Inventories Fall for Fourth Consecutive Week

Key Data Points:

U.S. crude oil inventories declined by 2.2 million barrels for the week ending May 8, 2025, marking the fourth consecutive weekly draw, according to American Petroleum Institute (API) data released Tuesday. This extended drawdown signals continued tightening in the domestic crude market.

Mixed Inventory Picture:

While crude stocks fell, the petroleum products market showed divergent trends:

• Gasoline inventories rose by 502,000 barrels
• Distillate stocks (including diesel and heating oil) decreased by 319,000 barrels

Market Context:

The data comes from market sources citing API figures and reflects ongoing dynamics in U.S. energy markets. The crude draw continues a month-long trend of declining inventories, which typically supports oil prices by indicating stronger demand or reduced supply. However, the increase in gasoline stocks suggests adequate supply at the pump level, potentially offsetting some bullish crude sentiment.

Product Mentioned:

The report covers three key petroleum categories tracked by the API: crude oil, motor gasoline, and distillates (diesel fuel and heating oil). These weekly inventory reports are closely watched by energy traders as leading indicators of supply-demand balance in the world's largest oil-consuming nation.

Market Implications:

The sustained crude inventory decline could provide price support for oil futures, though the gasoline build may temper concerns about refined product availability heading into the summer driving season. Official data from the Energy Information Administration (EIA), typically released Wednesday, will provide confirmation of these trends and further direction for energy markets.