U.S. Crude Inventories Drop amid Continued SPR Draws | EN590 Commodities
EN590 Commodities GroupCrude Oil September 02, 2026
U.S. Crude Inventories Drop amid Continued SPR Draws Julianne Geiger is a veteran energy journalist and market analyst with more than a decade of experience covering the global oil and gas sector. Her… The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell 2.6 million barrels in the week ending August 28. In the week prior, US crude oil inventories rose by 4.2 million barrels. Commercial crude oil inventories excluding the SPR have lost just over 48 million barrels over the last twenty weeks, with US crude inventories up 3.1 million for the year, according to API data, kept in check by draws from the SPR. For week ending August 28, another 3.1 million barrels left the SPR to aid commercial inventories, bringing the new total inventory held in
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