Mumbai, July 1 -- The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 6.072 million barrels in the week ending June 26. In the week prior, US crude oil inventories fell by 765,000 barrels. Commercial crude stockpiles excluding the Strategic Petroleum Reserve (SPR) have now declined by 59.4 million barrels over the past eleven weeks, although total crude inventories are down by only 8 million barrels so far this year as releases from the SPR continue to offset part of the drawdown. Gasoline inventories fell last week, by 2.106 million barrels in the week ending June 26. In the week prior, gasoline inventories increased by 1.238 million barrels.
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