US crude oil inventories fell by 6.8 million barrels in the week ending May 29, 2026, according to the American Petroleum Institute, sharply exceeding expectations for a 3.6 million-barrel decrease. The latest figure also marked the seventh consecutive weekly decline and followed a 2.8 million-barrel draw in the previous week. Gasoline inventories rose by 3.5 million barrels after falling 3.2 million barrels a week earlier, while distillate inventories, which include diesel and heating oil, declined by 214,000 barrels, reversing a 1.1 million-barrel increase in the prior week. The latest API data pointed to a sharper-than-expected drawdown in US crude stockpiles, while refined fuel inventories showed mixed trends.