By Kirk Maltais

U.S. crude oil stocks fell 2.5 million barrels last week, according to data released Wednesday by the U.S. Energy Information Administration.

Commercial crude-oil stocks excluding the Strategic Petroleum Reserve fell by barrels to 457 million barrels in the week ended May 10, the EIA said.

Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would fall by 1.1 million barrels.

Oil stored in the SPR rose by 593,000 barrels to 367.8 million barrels.

Oil stored at Cushing, Okla., the Nymex delivery hub, fell by 341,000 barrels to 34.99 million barrels.

Gasoline inventories fell 235,000 barrels to 227.8 million barrels, or 1% below the five-year average, the EIA said.

Distillate fuel stocks fell 45,000 barrels to 116.4 million barrels, and were 7% below the five-year average.

Change in U.S. oil inventories for the week ended May 10:

          Crude  Gasoline  Distillates  Refinery Use 
EIA data: (2.5)     (0.2)      (0.045)          1.9 
Forecast: (1.1)        0          0.3           0.5 

Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.

Write to Kirk Maltais at

(END) Dow Jones Newswires

05-15-24 1200ET