U.S. EIA Strategic Petroleum Reserve Inventory Drops to -6.166 Million Barrels for the Week Ending July 3

The U.S. EIA Strategic Petroleum Reserve inventory for the week ending July 3 was -6.166 million barrels, the lowest since April 29, 1983, compared to a previous value of -5.536 million barrels. EIA crude oil inventory stood at 2.998 million barrels, with an expectation of -2.371 million barrels, and a prior value of -3.775 million barrels. The crude oil inventory at Cushing, Oklahoma, was -0.052 million barrels, down from a previous value of 0.709 million barrels.