The Energy Information Administration on Thursday reported that U.S. commercial crude inventories fell by 1.5 million barrels for the week ended June 30. On average, analysts polled by S&P Global Commodity Insights expected the report, which was released a day later than usual due to Tuesday’s Fourth of July holiday, to show a decline of 3.6 million barrels. The EIA report also revealed weekly inventory decreases of 2.5 million barrels for gasoline and 1 million barrels for distillates. Analysts had forecast weekly decreases of 1.7 million barrels for gasoline and 700,000 barrels for distillates. Crude stocks at the Cushing,…
