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FinanceAPI: US crude inventories fall 2.8 million barrels, SPR continues drawdown
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The American Petroleum Institute (API) reported that US crude oil inventories fell by 2.8 million barrels for the week ending May 22, following a larger decline of 9.1 million barrels the previous week. Despite these recent drops, US crude inventories have risen by 22 million barrels so far in 2026. The Strategic Petroleum Reserve (SPR) continued its drawdown, releasing 9.1 million barrels in the same week, reducing total SPR holdings to 365.1 million barrels. This SPR release is part of ongoing efforts to alleviate upward pressure on oil prices. The data suggests a tightening supply picture in the short term, though year-to-date inventories remain elevated.
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Publication Date: 2026-05-27 21:10:00
Market Overview
Key Commodity Prices (as of 20 mins ago)
| Commodity | Price | Change | % Change | | :--- | :--- | :--- | :--- | | WTI Crude | 88.68 | -5.21 | -5.55% | | Brent Crude | 95.01 | -4.57 | -4.59% | | Murban Crude | 91.48 | -3.57 | -3.76% | | Natural Gas | 3.095 | +0.085 | +2.82% | | Heating Oil | 3.598 | -0.117 | -3.15% | | Gasoline | 3.134 | -0.087 | -2.70% |
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Additional Global Oil Benchmarks
| Blend | Time | Price | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Gasoline | 20 mins | 3.134 | -0.087 | -2.70% | | Heating Oil | 20 mins | 3.598 | -0.117 | -3.15% | | WTI Midland | 27 mins | 91.24 | -4.01 | -4.21% | | OPEC Basket | 3 days | 107.4 | -5.01 | -4.46% | | Indian Basket | 2 days | 102.1 | -4.21 | -3.96% |
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Other Global Crudes
| Blend | Time | Price | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Marine | 646 days | 75.08 | -2.22 | -2.87% | | Murban | 646 days | 76.34 | -1.97 | -2.52% | | Iran Heavy | 332 days | 64.96 | -0.76 | -1.16% | | Basra Light | 1640 days | 71.69 | -3.60 | -4.78% | | Saharan Blend | 332 days | 68.65 | -0.72 | -1.04% | | Bonny Light | 87 days | 67.66 | +3.95 | +6.20% |
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More Global Crudes
| Blend | Time | Price | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Bonny Light | 87 days | 67.66 | +3.95 | +6.20% | | Girassol | 646 days | 79.56 | -1.80 | -2.21% | | OPEC Basket | 3 days | 107.4 | -5.01 | -4.46% |
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Canadian Crude Blends
| Blend | Time | Price | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Canadian Crude Index | 1093 days | 53.57 | -1.23 | -2.24% | | Western Canadian Select | 15 hours | 81.54 | -2.71 | -3.22% | | Canadian Condensate | 15 hours | 96.04 | -2.71 | -2.74% | | Premium Synthetic | 15 hours | 94.29 | -2.71 | -2.79% | | Sweet Crude | 15 hours | 88.14 | -2.71 | -2.98% | | Peace Sour | 15 hours | 85.89 | -2.71 | -3.06% |
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Additional Canadian Blends
| Blend | Time | Price | Change | % Change | | :--- | :--- | :--- | :--- | :--- | | Peace Sour | 15 hours | 85.89 | -2.71 | -3.06% | | Light Sour Blend | 15 hours | 86.14 | -2.71 | -3.05% | | Syncrude Sweet Premium | 15 hours | 90.39 | -2.71 | -2.91% | | Central Alberta | 15 hours | 85.74 | -2.71 | -3.06% |
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Source
OilPrice.com Daily News UpdateWestern
Part of this Story
U.S. crude oil inventories drop for sixth straight week, SPR continues drawdown