US crude oil stocks fell 3.3 million barrels in the week to 24 July

Reuters reported from Houston that market sources said on Tuesday 28 July 2026 (6 Mordad 1405), citing data from the American Petroleum Institute (API), that US crude oil stocks fell by about 3.3 million barrels in the week to 24 July (2 Mordad).

The same data showed product inventories moving the other way: US gasoline stocks rose by 918,000 barrels over the week, and distillate stocks rose by 355,000 barrels against the preceding week.

A drawdown in crude inventories is read by market participants as a sign of tightening supply. API data is released ahead of the official weekly figures from the US Energy Information Administration, and the two sets of numbers can differ.