US crude stocks down another 7.2 million barrels, says API

London (Quantum Commodity Intelligence) - US crude stocks fell 7.2 million barrels last week to mark the fifth week of draws in a row, according to the American Petroleum Industry.

Gasoline and distillate stocks were both up 1 million barrels.

The US Energy Information Administration will publish its weekly oil inventory report at 1530 UK time.