U.S. Crude Inventories Fall 15 Million Barrels in Two Weeks

U.S. commercial crude oil inventories dropped 7.2 million barrels to 426.5 million in the week ended June 5, following an 8 million-barrel decline the prior week. The combined 15 million-barrel drawdown reflects a 5.8% year-on-year drop in crude imports, averaging 5.9 million barrels daily. Inventories now approach their lowest seasonal range since early 2026. Domestic production must accelerate to offset import weakness and prevent stocks from falling below 420 million barrels.