U.S. commercial crude inventories slipped 913,000 barrels last week, marking the first drawdown in eight weeks. The Energy Information Administration said stocks fell to 463.8 million barrels, roughly 1% above the five‑year seasonal average. Analysts had been expecting a 900,000‑barrel build, making the surprise drop a focal point for traders.

Production remained steady at 13.6 million barrels per day, unchanged from the prior week, indicating that the inventory swing stemmed from shifting trade flows rather than output cuts. Export volumes rose while imports slipped, a pattern that helped absorb excess supply and nudged prices lower amid ongoing geopolitical tensions in the Middle East.

The drawdown tightened the near‑term supply balance, prompting Brent futures to edge down a few cents and U.S. West Texas Intermediate to test the $80 barrier. Market participants will watch forthcoming customs data for clues on whether the export surge can sustain, but the current inventory dip already pressures bullish sentiment.

Investors note that the modest inventory decline comes as OPEC output remains constrained, leaving the United States as a key source of global supply. Continued export growth could bolster refinery margins domestically while keeping overseas markets well‑fed.