US crude stocks tumble by over 7 million barrels

Official US data showed crude inventories tumbled 7.1 million barrels last week to 425 million barrels, while analysts expected a drop of 275 thousand barrels. 

Gasoline stocks fell 4.6 million barrels to 215.7 million barrels, while distillate stocks rose 0.8 million barrels to 112.3 million barrels. 

Initial independent data yesterday showed US crude stocks by 448 thousand barrels.