EIA: US inventories tumble past forecasts

The Energy Information Administration released its report on US crude inventories, showing a drawdown to 5.9 million barrels in the week ending June 15, adding to a 4.1M drop in the previous reading, while analysts expected a 2.1M decline, with total stocks now down to 426.5 million barrels, which is 2% lower from the five-year average for this time of year. 

Gasoline stocks in the world's largest energy consumer rose 3.3 million barrels, up 6% from five-year averages, while distillate stocks, including heating fuel, rose 2.7 million barrels, up 14% from the five-year average.