The U.S. Strategic Petroleum Reserve releases 1.22 million barrels of crude oil per day, setting a new record high

In the week ending May 8, inventories fell to about 384.1 million barrels, down from 392.7 million barrels the previous week. The largest decrease was in Sour Oil inventories, which dropped by approximately 5.6 million barrels, while Sweet Oil inventories decreased by about 3 million barrels. The weekly decline of 8.6 million barrels exceeded the previous record of 8.4 million barrels set on September 9, 2022. (Bloomberg)