US crude stocks down another 8 million barrels, says API

Quantum Commodity Intelligence - US crude stocks fell almost 8 million barrels last week, similar to the previous week, according to sources, citing American Petroleum Institute (API) data Wednesday.

There was also a build in gasoline inventories of 2.7-million barrels for the week ending July 2.

US distillate stocks increased 1 million barrels.

The US Energy Information Administration will release its weekly stock data Thursday.