The Concurrent Decline of U.S. Oil and Gasoline with the Closure of the Strait of Hormuz 🔹Data from t...

The Concurrent Decline of U.S. Oil and Gasoline with the Closure of the Strait of Hormuz 🔹Data from the American Petroleum Institute (API) indicates that U.S. crude oil, gasoline, and distillate fuel inventories declined in the week ending 3 July (12 Tir). 🔹According to this report, U.S. crude oil inventories decreased by about 399,000 barrels, gasoline inventories decreased by 2.93 million barrels, and distillate fuel (diesel and heating oil) inventories dropped by about 1.8 million barrels compared to the previous week.