U.S. crude stockpiles fell 2.6M barrels last week, API says

The American Petroleum Institute reported that U.S. crude oil inventories declined by 2.6 million barrels for the week ending August 28, marking a reversal from the prior period's inventory build. This draw suggests a shift in petroleum supply dynamics, with stockpiles contracting rather than expanding as they had been in the preceding week.

The inventory decline is a notable swing in direction for crude supplies, indicating changing demand or production patterns in the U.S. energy market.

• API reported a 2.6 million barrel crude inventory draw for the week ending August 28, reversing the previous week's build.
• The shift from inventory accumulation to drawdown reflects changing conditions in U.S. petroleum supply and demand.