US oil inventories dropped -5.1m barrels, WTI retreats ahead of 70 handle

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US commercial crude oil inventories dropped -5.1m barrels in the week ending May 28. At 479.3m barrels, oil inventories are about -3% below the five year average for this time of year. Gasoline inventories rose 1.5m barrels. Distillate rose 3.7m barrels. Propane/propylene rose 4.1m barrels. Total commercial petroleum inventories rose 1.9m barrels. WTI crude oil […]

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