U.S. Crude Stockpiles Drop 7.2 Million Barrels, Far Exceeding Forecasts

U.S. commercial crude inventories fell 7.2 million barrels to 404.5 million in the week ending July 24, 2026, the EIA reported July 29. Reuters had flagged analyst expectations of a smaller decline. The draw reverses the prior week's 2 million barrel build. Whether it signals tightening supply or logistical timing remains unclear amid Strait of Hormuz disruptions.