US Crude Oil, Gasoline Inventories Continue to Crash as Iran War Takes Its Toll

Crude oil inventories in the United States decreased by 4.3 million barrels during the week ending May 8, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The decrease brings commercial stockpiles to 452.9 million barrels, according to government data, which is 0.3% below the five-year average for this time of year. According to weekly EIA data, crude oil inventories in the United States have decreased by a total 3.3 million barrels over the last...