EIA said crude oil inventories dropped for a second straight week

The Energy Information Administration (EIA) agency reported U.S. crude oil inventories decreased by 0.3 million barrels in the week-ended May 17, at 394.6 million barrels, after a decrease by 0.6 million barrels, while analysts called for a drop of 1.0 million barrels.

Total motor gasoline inventories increased by 3.0 million barrels last week and are near the upper limit of the average range. Both finished gasoline inventories and blending components inventories increased last week

Distillate fuel inventories decreased by 1.1 million barrels last week and remained in the lower half of the average range for this time of year